S&L Financial buys and sells securities which it classifies as available-for-sale. On December 27, 2021, S&L purchased Coca-Cola bonds at par for $879,000. At December 31, the bonds had a fair value of $875,000, and S&L has the intent and ability to hold the investment until fair value recovers. S&L sold the bonds on January 3, 2022, for $885,000. Prepare journal entries to record (a) the December 31, 2021, entry to adjust the investment to fair value and (b) the necessary entries on the date of sale, including (1) the adjustment to fair value on the date of sale; (2) the reclassification entry on the date of sale to move gains/losses from OCI to net income; and (3) the entry to record the sale of the investment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)