Saved Corporation purchased $1,050,000 of Taylor Company 5% bonds, at their face amount, with neither the intent nor the ability to e bonds until they matured in 2028, so Bloom classifies its investment as AFS. Unfortunately, a combination of problems at Company and in the debt securities market caused the fair value of the Taylor investment to decline to $640,000 during 2024. lowing are the two alternative scenarios that should be analyzed independent of each other. Bloom now believes it is more likely than not that it will have to sell the Taylor bonds before the bonds have a chance to recover heir fair value. Of the $410,000 decline in fair value, Bloom attributes $255,000 to credit losses, and $155,000 to noncredit osses. Bloom does not plan to sell the Taylor bonds prior to maturity, and does not believe it is more likely than not that it will have to sell the Taylor bonds before the bonds have a chance to recover their fair value. Of the $410,000 decline in fair value, Bloom attributes $255,000 to credit losses, and $155,000 to noncredit losses. red: repare appropriate entry(s) at December 31, 2024 dicate how the scenario will affect the 2024 income statement, OCI, and comprehensive income. pare appropriate entry(s) at December 31, 2024. Assume that, at the end of 2023, Bloom had recorded an unrealized loss of 500 on the Taylor investment. omplete this question by entering your answers in the tabs below. pare appropriate entry(s) at December 31, 2024. Assume that, at the end of 2023, Bloom had recorded an u 2,500 on the Taylor investment. e: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. ew transaction list Journal entry worksheet A B C D Bloom does not plan to sell the laylor bonds prior to maturity, and does not believe it is more likely than not that it will have to sell the Taylor bonds before the bonds have a chance to recover their fair value. Of the $410,000 decline in fair value, Bloom attributes $255,000 to credit losses, and $155,000 to noncredit losses. Record the noncredit losses if the Taylor bonds are not sold. ote: Enter debits before credits. Event General Journal 2b Loss on investments (unrealized, OCI) Debit Credit