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Carla Company has the following portfolio of investment securities at September 30, 2020, its most recent reporting date. Fair Value Investment Securities Cost $199,760 $185,890

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Carla Company has the following portfolio of investment securities at September 30, 2020, its most recent reporting date. Fair Value Investment Securities Cost $199,760 $185,890 Horton, Inc. common (4,540 shares) Monty, Inc. preferred (3,210 shares) 121,980 128,450 155,310 154,310 Oakwood Corp. common (930 shares) On October 10, 2020, the Horton shares were sold at a price of $52 per share. In addition, 3,200 shares of Patriot common stock were acquired at $53 per share on November 2, 2020. The December 31, 2020, fair values were Monty $95,620, Patriot $135,540, and Oakwood $167,350. Prepare the journal entries to record the sale, purchase, and adjusting entries related to the equity securities in the last quarter of 2020. (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.) Account Titles and Explanation Date Debit Credit 236080 Oct. 10, 2020 : cash Equity Investments 199760 36320 Gain on Sale of Investments Nov. 2, 2020 169600 Equity Investments Cash 169600 Unrealized Holding Gain or Loss - Income Dec. 31, 2020 : Fair Value Adjustment

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