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Business, 22.10.2019 23:50 hiihihihij
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 100 grocers' supply corporation bonds at par for $350,000. 28 received interest of $2,000 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 $395,000. required: 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.)
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