On February $18,2024,$ Union Corporation purchased $1,139$ IBM bonds as a long$-$term investment at their face value for a total of

$$1,139,000.$ Union will hold the bonds indefinitely, and may sell them if their price increases sufficiently. On December $31,2024,$ and

December $31,2025,$ the market value of the bonds was $$1,105,000$ and $$1,156,000,$ respectively.

Required:

& $3.$ Prepare the adjusting entry for December $31,2024$ and $2025.$

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

Journal entry worksheet

Record the adjusting entry for December $31,2024.$