Provide example journal entries for the following scenario: $(15\%)$

Co A wants to purchase carbon credits on the voluntary carbon market to use at a later date as a carbon offset.

$1$ July $2023$ Co A purchases carbon credits for $$500000.$

$30$ June $2024$ the fair value of the carbon credits is $ $600000.$

$30$ June $2025$ the fair value of the carbon credits is $ $700000.$ Co A uses up half of the carbon credits to offset their own carbon emissions.