The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys debt securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity but to have them available for sale when circumstances warrant. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2017. Mar. 31 Acquired 6% Distribution Transformers Corporation bonds costing $470,000 at face value Sep. 1 Acquired $1,005,000 of American Instruments, 8% bonds at face value Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Oct. 2 Sold the Distribution Transformers bonds for $502,000 Nov. 1 Purchased $1,470,000 of M&D Corporation 4% bonds costing at face value. Dec. 31 Recorded any necessary adjusting entry (s) relating to the investments. The market prices of the investments are: American Instruments bonds M&D Corporation bonds $ 948,000 $1,537,000 (Hint: Interest must be accrued.)