(The following information applies to the questions displayed below.) On January 1, 2019, Rain Technology purchased at par $84,000, 7%, bonds of Lightyear Services Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Rain Technology's year ends on December 31. The following information applies to the fair value of Lightyear Services' bonds: Bond Price 12/31/2019 $82,000 12/31/2020 91,000 12/31/2021 86,000 Rain Technology sold the bonds on July 14, 2022, for $89,000. 2. Assuming that Rain purchased the bonds as trading securities, prepare journal entries at the end of each year and on the date of sale. Ignore interest. (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 Recognize the fair value of investments on December 31, 2019. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2019 Record entry Clear entry View general journal (The following information applies to the questions displayed below.) On January 1, 2019, Rain Technology purchased at par $84,000, 7%, bonds of Lightyear Services Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Rain Technology's year ends on December 31. The following information applies to the fair value of Lightyear Services' bonds: Bond Price 12/31/2019 $82,000 12/31/2020 91,000 12/31/2021 86,000 Rain Technology sold the bonds on July 14, 2022, for $89,000. 2. Assuming that Rain purchased the bonds as trading securities, prepare journal entries at the end of each year and on the date of sale. Ignore interest. (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 Recognize the fair value of investments on December 31, 2020. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2020 Record entry Clear entry View general journal (The following information applies to the questions displayed below.) On January 1, 2019, Rain Technology purchased at par $84,000, 7%, bonds of Lightyear Services Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Rain Technology's year ends on December 31. The following information applies to the fair value of Lightyear Services' bonds: Bond Price 12/31/2019 $82,000 12/31/2020 91,000 12/31/2021 86,000 Rain Technology sold the bonds on July 14, 2022, for $89,000. 2. Assuming that Rain purchased the bonds as trading securities, prepare journal entries at the end of each year and on the date of sale. Ignore interest. (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 Recognize the fair value of investments on December 31, 2021. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal (The following information applies to the questions displayed below.) On January 1, 2019, Rain Technology purchased at par $84,000, 7%, bonds of Lightyear Services Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Rain Technology's year ends on December 31. The following information applies to the fair value of Lightyear Services' bonds: Bond Price 12/31/2019 $82,000 12/31/2020 91,000 12/31/2021 86,000 Rain Technology sold the bonds on July 14, 2022, for $89,000. 2. Assuming that Rain purchased the bonds as trading securities, prepare journal entries at the end of each year and on the date of sale. Ignore interest. (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 Recognize the fair value of investments on July 14, 2022. Note: Enter debits before credits. Date General Journal Debit Credit July 14, 2022 Record entry Clear entry View general journal (The following information applies to the questions displayed below.) On January 1, 2019, Rain Technology purchased at par $84,000, 7%, bonds of Lightyear Services Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Rain Technology's year ends on December 31. The following information applies to the fair value of Lightyear Services' bonds: Bond Price 12/31/2019 $82,000 12/31/2020 91,000 12/31/2021 86,000 Rain Technology sold the bonds on July 14, 2022, for $89,000. 2. Assuming that Rain purchased the bonds as trading securities, prepare journal entries at the end of each year and on the date of sale. Ignore interest. (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 Record the cash received from the sale of bonds on July 14, 2022. Note: Enter debits before credits. Date General Journal Debit Credit July 14, 2022 Record entry Clear entry View general journal