On December $21,2025,$ Pharoah Company provided you with the following information regarding its equity

investments.

During $2026,$ Colorado Co$.$ stock was sold for $$8,860.$ The fair value of the stock on December $31,2026,$ was

Clemson Corp. stock $-$$$18,690$; Buffaloes Co$.$ stock $-$$$20,060.$ None of the equity investments result in

significant influence.

$($a$)$ Prepare the adjusting journal entry needed on December $31,2025.$

$($b$)$ Prepare the journal entry to record the sale of the Colorado Co$.$ stock during $2026.$

$($c$)$ Prepare the adjusting journal entry needed on December $31,2026.$

$($List all debit entries before credit entries. 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 $0$ for the amounts.$)$

No$.$

Date

Account Titles and Explanation