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 110 Grocers Supply Corporation bonds for $385,000 28 Received interest of $2,400 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 vere $4,000 per bond 2019 Jan. Sold the Grocers Supply Corporation bonds for $418,000 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.) Answer is complete but not entirely correct. No Date General Journal Debit Credit Investment in Grocers' Supply bonds 01 385,000 17,2018 Cash 385,0000 2400 Cash 28, 2018 Interest revenue 2.40 December Fair value adjustment 31, 2018 55,0000 Unrealized holding gain-NI 55,000 January 05, 2019 l unrealized holding loss-N1 55,000 Fair value adjustment 55,0000 January 05, Cash 01 418,00 2019 Loss on sale of investments 33,0000 2. Indicate any amounts that Rantzow-Lear Company would report in its 2018 balance sheet and income statement as a result of this Answer is complete but not entirely correct. Balance Sheet (short-term investment) Trading securities $ 440 Income Statement: Gain on investments Unrealized holding gain