S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2018, S&L purchased Coca-Cola bonds at par for $877,000 and sold the bonds on January 3, 2019, for $882,500. At December 31, the bonds had a fair value of $874,000. Prepare journal entries to record (a) any unrealized gains or losses occurring in 2018 and (b) the sale of the bonds in 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

& Answer is complete but not entirely correct No Date General Journal Debit Credit December 31, 201 Unrealized holding loss-NI 3,000 Fair value adjustment 3,000 2 January 03, 2019 |Unrealized holding gain-NI 8,500 Fair value adjustment 8,500 January 03, 2019 Cash 882.5000 5,500 877,000 Gain on sale of investments Investment in Coca-Cola bonds