Rantzow-Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price. The company's fiscal year ends on December 31. The following selected transactions relating to Rantzow-Lear's trading account occurred during December 2018 and the first week of 2019. 2018 Dec. 17 Purchased 130 Grocers' Supply Corporation bonds for $585,000 28 Received interest of $3,200 from the Grocers' Supply Corporation bonds. 31 Recorded any necessary adjusting entry relating to the Grocers Supply Corporation bonds. The market price of the bonds were $5,000 per bond. 2019 Jan. 5 Sold the Grocers' Supply Corporation bonds for $617,500 Required 1. Prepare the appropriate journal entry or entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 Purchased 130 Grocers' Supply Corporation bonds at par of S585,000 Journal entry worksheet 2 3 4 Purchased 130 Grocers' Supply Corporation bonds at par of S585,000. Note: Enter debits before credits. Date General Journal Debit Credit December 17,2018 Record entry Clear entry View general journal Journal entry worksheet 2 4 Received cash interest of $3,200 from the Grocers' Supply Corporation bonds Note: Enter debits before credits. Date General Journal Debit Credit December 28, 2018 Record entry Clear entry View general journal Journal entry worksheet 2 5 Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation bonds. The market price of the bonds were $5,000 per bond Note: Enter debits before credits Date General Journal Debit Credit December 31,2018 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 Record the entry to adjust the fair value Note: Enter debits before credits Date General Journal Debit Credit January 05,2019 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 Sold the Grocers' Supply Corporation bonds for $617,500. Note: Enter debits before credits. Date General Journal Debit Credit January 05, 2019 Record entry Clear entry View general journal