S&L Financial buys and sells securities expecting to earn profits on shortterm differences in price. Assume that on December  S&L purchased CocaCola bonds at par for $ and sold the bonds on January  for $ At December  the bonds had a fair value of $ 

 

Prepare journal entries to record a any unrealized gains or losses occurring in and b the sale of the bonds in

Note: If no entry is required for a transactionevent select No journal entry required\" in the first account field.