View Policies Current Attempt in Progress On December 21, 2020, Shamrock Company provided you with the following information regarding its equity investments. Unrealized Gain (Loss) $1900) (1.100) December 31, 2020 Investments (Trading) Cost Fair Value Clemson Corp.stock $21,600 $20,700 Colorado Co. stock 10,700 9,600 Buffaloes Co.stock 21,600 22,200 Total of portfolio $53.900 $52,500 Previous fair value adjustment balance Fair value adjustment-cr. 600 (1,400) $(1,400 During 2021, Colorado Co. stock was sold for $10,140. The fair value of the stock on December 31, 2021, was Clemson Corp. stock -- $20,790; Buffaloes Co. stock - $22,110. None of the equity investments result in significant influence. (a) (b) Prepare the adjusting journal entry needed on December 31, 2020, Prepare the journal entry to record the sale of the Colorado Co stock during 2021 Prepare the adjusting journal entry needed on December 31, 2021 (c) (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 - Equity Fair Value Adjustment (b) Cash 10,140 Unrealized Holding Gain or Loss Equity Equity Investments (c) Fair Value Adjustment Unrealized Holding Gain or Loss - Equity e Textbook and Media List of Accounts