A firm in realty business purchased a house for $320,000 on Oct. 27, 2019 with an intension to sell it at a higher price and earn profit. But due to Covid breakout, home prices crashed and the value was assessed as $240,000 by Dec 31,2019 . The prices did not recover due to lock down and the price was valued at $225,000 by Dec 31,2020 . After easing the restrictions, the home prices started to pick up and this property was assessed at $260,000 on Dec 31, 2021. Prices further picked up in 2022 and this property was assessed at $295,000 on Dec 31, 2022. But due to immediate cash requirement, he sold this property for $308,000 on Jan 09,2023 . Assuming that the realty firm has year eand as Dec 31 and maintains its investment accounts using Held For Trading method, please prepare necessary entries to record all the transactions.|