Current Attemptin Progress Your answer is partially correct. Bramble Company has the following securities in its portfolio on December 31, 2020. None of these investments are accounted for under the equity method. Investments Cost Fair Value 1,500 shares of Gordon, Inc., Common $71,100 $66,500 5,000 shares of Wallace Corp. Common 169,300 164,800 400 shares of Martin, Inc., Preferred 65,200 66,900 $305,600 $298,200 All of the securities were purchased in 2020. In 2021, Bramble completed the following securities transactions. March 1 Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200. April 1 Bought 700 shares of Earnhart Corp., Common, @ $75 plus fees of $1,300. Bramble's portfolio of equity securities appeared as follows on December 31, 2021. Investments Cost Fair Value 5,000 shares of Wallace Corp., Common $169,300 $164,800 700 shares of Earnhart Corp., Common 53,800 50,700 400 shares of Martin, Inc., Preferred 65,200 63,000 $288,300 $278,500 Prepare the general journal entries for Bramble Company for: (a) (b) (c) (d) The 2020 adjusting entry. The sale of the Gordon stock. The purchase of the Earnhart stock. The 2021 adjusting entry for the trading portfolio. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit (a) Unrealized Holding Gain or Loss - Income Fair Value Adjustment (b) Cash Loss on Sale of Investments Equity Investments Equity Investments (0) Cash (d) Unrealized Holding Gain or Loss -Income Fair Value Adjustment eTextbook and Media Save for later Attempts: 1 of 10 used Submit