Rantzow Lear Company buys and sells debt securities expecting to earn profits on short term differences in price, and holds these investments in its trading portfolio The company's fiscal year ends on December 3 1 The following selected transactions relating to Rantzow Lear's trading account occurred during December 2 0 2 4 and the first week of 2 0 2 5 Decenber 1 7 , 2 0 2 4 Purchased 1 4 5 Grocers' Supply Corporation bonds at par for $ 6 5 2 , 5 0 0 Decenber 2 8 , 2 0 2 4 Received interest of $ 3 , 8 0 0 fron the Grocers' Supply Corporation bonds December 3 1 , 2 0 2 4 Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation bonds The market price of the bond was $ 5 , 6 0 0 per bond January 5 , 2 0 2 5 Sold the Grocers' Supply Corporation bonds for $ 6 8 8 , 7 5 0 Required Prepare the appropriate journal entry or entries for each transaction Indicate any amounts that Rantzow Lear Company would report in its 2 0 2 4 balance sheet and income statement as a result of this investment Ignore income taxes Answer is complete but not entirely correct Complete this question by entering your answers in the tabs below Indicate any amounts that Rantzow Lear Company would report in its 2 0 2 4 balance sheet and income statement as a result of this investment Ignore income taxes How do I solve the red wrong part Please show work, thanks

Question

Rantzow   Lear Company buys and sells debt securities expecting to earn profits on short   term differences in price, and holds these investments in its trading portfolio  The company's fiscal year ends on December 3 1   The following selected transactions relating to Rantzow   Lear's trading account occurred during December 2 0 2 4 and the first week of 2 0 2 5   Decenber 1 7 , 2 0 2 4 Purchased 1 4 5 Grocers' Supply Corporation bonds at par for $ 6 5 2 , 5 0 0   Decenber 2 8 , 2 0 2 4 Received interest of $ 3 , 8 0 0 fron the Grocers' Supply Corporation bonds  December 3 1 , 2 0 2 4 Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation bonds  The market price of the bond was $ 5 , 6 0 0 per bond  January 5 , 2 0 2 5 Sold the Grocers' Supply Corporation bonds for $ 6 8 8 , 7 5 0   Required  Prepare the appropriate journal entry or entries for each transaction  Indicate any amounts that Rantzow   Lear Company would report in its 2 0 2 4 balance sheet and income statement as a result of this investment  Ignore income taxes  Answer is complete but not entirely correct  Complete this question by entering your answers in the tabs below  Indicate any amounts that Rantzow   Lear Company would report in its 2 0 2 4 balance sheet and income statement as a result of this investment  Ignore income taxes  How do I solve the red   wrong part  Please show work, thanks

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Rantzow - Lear Company buys and sells debt securities expecting to earn profits on short - term differences in price, and holds these investments in

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