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On the first day of $2024,$ January $1$st$,$ Gringotts Wizarding Bank decided to expand its investment portfolio by purchasing magical bonds at their face value, for a total of $$936,000.$ These unique wizarding bonds came with an interest rate of $10\%.$ As the year progressed to its end, on December $31,2024,$ the magical market's valuation of these bonds underwent a change, now standing at $$983,000.$

Required: Prepare the necessary journal entry for Gringotts Wizarding Bank as of December $31,2024,$ to accurately reflect the revised value of these magical bonds in its financial records. Assume that the bonds are classified as:

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Trading securities$.$

Available$-$for$-$sale securities$.$

Held$-$to$-$maturity securities$.$

Journal entry worksheet

$1$

$2$

$3$

Record the unrealized holding gain or loss for trading securities$.$

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,]]$

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