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During 2021, Colorado Co. stock was sold for $10,110. The tair value of the stock on December 31,2021, was Clemson Corp. stock$17,600 : Buffaloes Co.

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During 2021, Colorado Co. stock was sold for $10,110. The tair value of the stock on December 31,2021, was Clemson Corp. stock$17,600 : Buffaloes Co. stock $18,920. None of the equity investments result in significant influence. (a) Prepare the adjusting iournal entry needed on December 31,2020. (b) Prepare the journal entry to record the sale of the Colorado Co. stock during 2021. (c) Prepare the adjusting journal entry needed on December 31, 2021 . (Crodit account titles are automatically indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titier and enter ofor the amounts.)

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