S&L Financial buys and sells securities expecting to earn profits on short$-$term differences in price. Assume that on December $27,2024,$ S&L purchased Coca$-$Cola bonds at par for $$890,000$ and sold the bonds on January $3,2025,$ for $$897,500.$ At December $31,$ the bonds had a fair value of $$884,000.$

Prepare journal entries to record $($a$)$ any unrealized gains or losses occurring in $2024$ and $($b$)$ the sale of the bonds in $2025.$ Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.