Stewart Enterprises has the following investments, all purchased prior to 2024: Stewart does not intend to sell any of these investments and does not believe it is more likely than not that it will have to sell any of the bond investments before fair value recovers. Required: Prepare the appropriate adjusting journal entries to account for each investment for 2024 and 2025. 1. Bee Company 7% bonds, purchased at face value, with an amortized cost of $4,240,000, and classified as held-to-maturity. At December 31, 2024, the Bee investment had a fair value of $3,560,000, and Stewart calculated that $360,000 of the fair value decline is a credit loss and $320,000 is a noncredit loss. At December 31, 2025, the Bee investment had a fair value of $3,760,000, and Stewart calculated that $200,000 of the difference between fair value and amortized cost was a credit loss and $280,000 was a noncredit loss.