December 31, Investments (Trading) Cost Clemson Corp.stock $20,800 Colorado Co. stock 9,300 Buffaloes Co. stock 20,800 Total of portfolio $50,900 Previous fair value adjustment balance Fair value adjustment-Cr. Fair Value $19,900 8,300 21,420 $49,620 Unrealized Gain (Loss) $(900) (1,000) 620 (1,280) 0 $(1,280) During 2021, Colorado Co. stock was sold for $8,790. The fair value of the stock on December 31, 2021, was Clemson Corp. stock-$19,990; Buffaloes Co.stock-$21,320. None of the equity investments result in significant influence. (a) (b) (c) 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. (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) (b) (c)