0.8871 E Tamarisk Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2020): (1) 2,800 shares of Anderson Co. common stock which cost $53,200, (2) 10,300 shares of Munter Ltd. common stock which cost $597,400, and (3) 5,400 shares of King Company preferred stock which cost $232,200. The Fair Value Adjustment account shows a credit of $9,800 at the end of 2020. In 2021, Tamarisk completed the following securities transactions. 1. 2. On January 15, sold 2,800 shares of Anderson's common stock at $23 per share less fees of $1,950. On April 17, purchased 900 shares of Castle's common stock at $34 per share plus fees of $2.170. On December 31, 2021, the market prices per share of these securities were Munter $62, King $40, and Castle $22. In addition, the accounting supervisor of Tamarisk told you that, even though all these securities have readily determinable fair values, Tamarisk will not actively trade these securities because the top management intends to hold them for more than one year. (a) Your answer is correct. Prepare the entry for the security sale on January 15, 2021. (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 O for the amounts.) Date Account Titles and Explanation. Jan. 15, Debit Credit Prepare the entry for the security sale on January 15, 2021. (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 O for the amounts.) Date Account Titles and Explanation Jan. 15, Cash 2021 (b) Equity Investments Gain on Sale of Investments eTextbook and Media List of Accounts Debit 62450 Credit 53200 9250 Attempts: 1 of 3 used Your answer is correct. Prepare the journal entry to record the security purchase on April 17, 2021. (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 O for the amounts.) (b) Your answer is correct. Prepare the journal entry to record the security purchase on April 17, 2021. (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 O for the amounts.) Date Account Titles and Explanation Apr. 17, 2021 Equity Investments (c) Cash eTextbook and Media List of Accounts Debit 32770 Credit 32770 Attempts: 1 of 3 used - Your answer is partially correct. Compute the unrealized gains or losses. Unrealized Gain Prepare the adjusting entry for Tamarisk on December 31, 2021. (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 O for the amounts.) Date Account Titles and Explanation Dec. 31, Fair Value Adjustment 2021 Unrealized Holding Gain or Loss-Income eTextbook and Media List of Accounts Debit Credit