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. Dec. 17 Purchased 115 Grocers' Supply Corporation bonds for $402,500. 28 Received interest of $2,600 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 $4,000 per bond. 2019 Jan. 5 Sold the Grocers' Supply Corporation bonds for $437,000. Required: 1. Prepare the appropriate journal entry or entries for each transaction. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 5 Purchased 115 Grocers' Supply Corporation bonds at par of $402,500. Note: Enter debits before credits. Journal entry worksheet Received cash interest of $2,600 from the Grocers' Supply Corporation bonds. Note: Enter debits before credits. Journal entry worksheet Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation bonds. The market price of the bonds were $4,000 per bond. Note: Enter debits before credits. Journal entry worksheet Record the entry to adjust the fair value. Note: Enter debits before credits. Journal entry worksheet 1 Sold the Grocers' Supply Corporation bonds for $437,000. Note: Enter debits before credits. 2. Indicate any amounts that Rantzow-Lear Company would report in its 2018 balance sheet and income statement as a result of this investment