Culver Corporation made the following cash purchases of securities during 2020, which is the first year in which Culver invested in securities. 1. On January 15, purchased 12,400 shares of Sanchez Company's common stock at $33.50 per share plus commission $2,464. 2. On April 1, purchased 6,200 shares of Vicario Co.'s common stock at $52 per share plus commission $4,170. 3. On September 10, purchased 8,680 shares of WTA Co.'s preferred stock at $26.50 per share plus commission $6,084. On May 20, 2020, Culver sold 4,836 shares of Sanchez Company's common stock at a market price of $35 per share less brokerage commissions, taxes, and fees of $4,774. The year-end fair values per share were Sanchez $30, Vicario $55, and WTA $28. In addition, the chief accountant of Culver 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. Prepare the journal entry for the security sale on May 20. (Round answers to O 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 O for the amounts.) Date Account Titles and Explanation May 20, 2020 Debit Credit Compute the unrealized gains or losses. (Round answer to O decimal places, e.g. 2,500.) Unrealized Prepare the adjusting entries for Culver on December 31, 2020. (Round answers to O 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, sele "No Entry" for the account titles and enter O for the amounts.) Date Dec. 31, Account Titles and Explanation Debit Credit 2020