Cullumber Corporation made the following cash purchases of securities during 2020, which is the first year in which Cullumber invested in securities.

1.		On January 15, purchased 8,800 shares of Sanchez Companys common stock at $33.50 per share plus commission $1,744.
2.		On April 1, purchased 4,400 shares of Vicario Co.s common stock at $52 per share plus commission $2,964.
3.		On September 10, purchased 6,160 shares of WTA Co.s preferred stock at $26.50 per share plus commission $4,320.

On May 20, 2020, Cullumber sold 3,520 shares of Sanchez Companys common stock at a market price of $35 per share less brokerage commissions, taxes, and fees of $3,388. The year-end fair values per share were Sanchez $30, Vicario $55, and WTA $28. In addition, the chief accountant of Cullumber told you that the corporation plans to hold these securities for the long-term but may sell them in order to earn profits from appreciation in prices. The equity method of accounting is not appropriate for these stock purchases.

Compute the unrealized gains or losses. (Round answer to 0 decimal places, e.g. 2,500.)

Unrealized GainsLosses

$

Prepare the adjusting entries for Cullumber on December 31, 2020. (Round answers to 0 decimal places, e.g. 2,500. 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.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2020