Bloom Corporation purchased $$1600,000$ of Taylor Company $5\%$ bonds at par with the intent and ability to hold the bonds until they matured in $2025,$ so Bloom classifies their investment as HTM$.$ Unfortunately, a combination of problems at Taylor Company and in the debt market caused the fair value of the Taylor investment to decline to $$1080,000$ during $2021$ Consider each of the following as an independent situation. Bloom now believes it is more likely than not that it will have to sell the Taylor bonds before the bonds have a chance to recover their fair value. Of the $$520,000$ decline in fair value, Bloom attributes $$310000$ to credit losses, and $$210000$ to noncredit losses. Bloom does not plan to sell the Taylor bonds prior to maturity, and does not believe it is more likely than not that it will have to sell the Taylor bonds before the bonds have a chance to recover their fair value. Of the $$520,000$ decline in fair value, Bloom attributes $$310000$ to credit losses, and $$210000$ to noncredit losses. Required: $($Ignore income taxes.$)$ Prepare appropriate entry$($s$)$ at December $31,2018,$ and indicate how the scenario will