On December $12,2024,$ an equity imvestment costing $$80,000$ was sold for $$100\mathrm{.}000.$ The investment was carried in the balance sheet at $$75,000,$ and was accounted for under the equity method. An error was made in which the total of the sale proceeds was credited to the investment account.

Requilredt

Prepare the journal entry to correct the error assuming it is discovered before the books are adjusted or closed in $2024,($Ignore income taxes.$)$

Prepare the journal entry to corroct the error assaming it is not discovernd uneil early $2025.($Ignore income taxes.$)$