Exercise 17-15 your answer is partially correct. Try again. Monty Company has the following securities in its portfolio on December 31, 2020. None of these investments are accounted for under the equity method. Investments Cost Fair Value 1,500 shares of Gordon, Inc., Common $79,600 $74,700 5,000 shares of Wallace Corp., Common 170,900 165,800 400 shares of Martin, Inc., Preferred 65,800 67,200 $316,300 $307,700 All of the securities were purchased in 2020. In 2021, Monty completed the following securities transactions March 1 Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200. April 1 Bought 700 shares of Earnhart Corp., Common, o $75 plus fees of $1,300. Monty's portfolio of equity securities appeared as follows on December 31, 2021. Investments Fair Value 5,000 shares of Wallace Corp., Common $170,900 $165,800 700 shares of Earnhart Corp., Common 53,800 50,000 400 shares of Martin, Inc., Preferred 65,800 64,000 $290,500 $279,800 Cost Prepare the general journal entries for Monty Company for: (a) The 2020 adjusting entry. Prepare the general journal entries for Monty Company for (a) The 2020 adjusting entry (b) The sale of the Gordon stock. (c) The purchase of the Earhart stock (d) The 2021 adjusting entry for the trading portfolio credit accountitles are automatically indented when amount is entered. De net indent manuatty. Ir entry is requirest, select "We entry to the account titles and enter for the amounts No. Account Titles and Explanation Debit Credit (a) Bed Fong Cain 5600 FG Adurant . 66300 Los on Sale or resten 13300 79000 Equity Investments ( Equity Investments 5300 53000 Canh 10700 Ured Holding Gain Version 4 M 2 (c) Equity Investments 53800 Cash 53800 (d) Unrealized Holding Gain or 10700 Fair Value Adjustment 10700 Click if you would like to Show Work for this question: Open Show Work