LIMA Corp., a private company, paid $$1,000,000$ to purchase some debt investments $($bonds$)$ on March $1,2023.$ As part of its recent investment strategies, LIMA decided to make the best use of its idle cash to earn extra profit. The company purchased these investments for the primary purpose of selling them in the short$-$term. In other words, the company is hoping to sell the securities quickly for profit. Assume that LIMA has a year end of April $30.$ On July $15,2023,$ the company sold a portion of the bonds that originally cost $$200,000$ for $$208,000.$ What is the journal entry to record this sale?

Select one:

a$.$ Debit Cash $$200,000$; credit Short$-$Term Investment$$Bonds $$200,000$

b$.$ Debit Cash $$208,000$; credit Short$-$Term Investment$$Bonds $$200,000$; credit Gain on Sale of Investment $$8,000$

c$.$ Debit Valuation Allowance for Fair Value Adjustment $$8,000$; credit Unrealized Gain on Fair Value $$8,000$

d$.$ Debit Cash $$200,000$; debit Loss on Sale of Investment $$8,000$; credit Short$-$Term Investment$$Bonds $$208,000$