On January 12, 2021 S&L purchased bonds of Corporation for $76,000 at par and classified the securities as trading securities. On December 31, 2021, these bonds were valued at $82,000. Nine months later, on October 3, 2022, S&L Corporation sold these bonds for $70,000. Prepare the journal entries require on the date of the sale. Record the fair value adjustment Record the sale of the investment by S&L