Sooner Company holds debt and equity securities as investments. The company's year-end is December 31. Sooner records adjusting entries, including the fair value adjustment, at year-end. Sooner's December 31, 2016, balance sheet included the following information: Part 1-Record the 2017 transactions below in journal entries or T-accounts. On March 1, Sooner received $1, 500 in dividends from the Longhorn Company On June 1, Sooner sold the Longhorn stock for $40,000. On July 1, Sooner purchased $50,000 of Cowboy Company's 8% bonds at a price that yields 10%. The bonds mature on July 1, 2019, and pay interest semiannually on June 30 and December 31. Sooner intends to hold this investment to maturity and uses the effective interest method. On October 1, Sooner purchased $100,000 of Cornhusker Company's 12% bonds at face value. The bonds mature in 10 years and pay interest semiannually on March 31 and September 30. The bonds will be held available for sale as circumstances warrant. On November 1, Sooner purchased Red Raider common stock for $23,000, holding the stock in an active trading account. On December 31, Sooner received $2,000 in interest on the Cowboy bonds and recorded interest revenue using the effective interest method. On December 31, 2017, Sooner recorded adjusting entries for accrued interest revenue and the fair value adjustment