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 185 Grocers' Supply Corporation bonds for $462,500 28 Received interest of $5,400 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 $3,000 per bond. 2019 Sold the Grocers' Supply Corporation bonds for $527,250. Jan. 5 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 1 2 3 4 5 Purchased 185 Grocers' Supply Corporation bonds at par of $462,500. Note: Enter debits before credits Date General Journal Debit Credit December 17, 2018 Required: 1. Prepare the appropriate journal entry or entries for each transaction. (If no entry is required for a transaction. journal entry required" in the first account field.) View transaction list Purchased 185 Grocers' Supply Corporation bonds at par of $462,500. 1 Received cash interest of $5,400 from the Grocers Supply Corporation bonds. 2 3 Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation bonds. The market price of the bonds were $3,000 per bond. Credit 4 Record the entry to adjust the fair value. Sold the Grocers' Supply Corporation bonds for 5 $527,250. journal entry has been entered Note: Clear entry Record entry View general journal