Grouper 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		$80,000		$75,900
5,000 shares of Wallace Corp., Common		172,000		166,800
400 shares of Martin, Inc., Preferred		57,200		58,800
		$309,200		$301,500

All of the securities were purchased in 2020. In 2021, Grouper 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, @ $75 plus fees of $1,300.

Groupers portfolio of equity securities appeared as follows on December 31, 2021.

Investments		Cost		Fair Value
5,000 shares of Wallace Corp., Common		$172,000		$166,800
700 shares of Earnhart Corp., Common		53,800		50,200
400 shares of Martin, Inc., Preferred		57,200		55,000
		$283,000		$272,000

Prepare the general journal entries for Grouper Company for:

(a)		The 2020 adjusting entry.
(b)		The sale of the Gordon stock.
(c)		The purchase of the Earnhart stock.
(d)		The 2021 adjusting entry for the trading portfolio.

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