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 $889,000 and sold the bonds on January 3, 2025, for $898,500. At December 31, the bonds had a fair value of $880,000.

1. Record the unrealized gains or losses occurring at year end.

Debit Loss on investment (unrealized, NI) 9000

Credit Fair Value Adjustment 9000

1. Record the unrealized gains or losses occurring on the date of sale.
2. Record the sale of the Coca-Cola bonds in 2025.