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please correct this assignment S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2021, S&L purchased

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S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2021, S&L purchased Coca-cola bonds at par for $892,000 and sold the bonds on January 3, 2022, for $895,500. At December 31, the bonds had a fair value of $889,000. Prepare journal entries to record (a) any unrealized gains or losses occurring in 2021 and (b) the sale of the bonds in 2022. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Date General Journal Debit Credit 1 December 31 Loss on investments (unrealized, NI) V 3,000V Investment in bonds X 3,000 2 January 03, 2 No journal entry required X X X X 3 January 03, 2 Cash 895,500v nvestment in bonds 889,000X Gain on investments (unrealized, NI) X 6,500X

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