On July 1, 2024, Slick Rocks, Incorporated, purchased at par $329,000, 6 percent bonds of Sandstone Company for the trading securities portfolio. The bonds pay interest each June 30 and December 31. Slick Rocks fiscal year ends on December 31. The following information pertains to the price of the Sandstone bonds:

	Bond Price
12/31/2024	$338,400
12/31/2025	321,480

Slick Rocks sold the Sandstone bonds on June 30, 2026, at a price of $331,820.

Prepare any journal entries that are required by the facts presented in the case.

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

1. Record the purchase of investments on July 1, 2024.

2. Record the interest received for the period ending December 31, 2024.

3. Record the change in the fair value of the investments on December 31, 2024.

4. Record the interest received for the period ending June 30, 2025.

5. Record the interest received for the period ending December 31, 2025.

6. Record the change in the fair value of the investments on December 31, 2025.

7. Record the interest received for the period ending June 30, 2026.

8. Record the adjustment to fair value of $331,820 investments on sale date, June 30, 2026.

9. Reclassify any gain or loss on the sale of the investments on June 30, 2026.

10. Record the cash received from sale of $331,820 investments on June 30, 2026.