On August $1,$ Cullumber Company buys $1,000$ shares of Estrada common stock for $$26,000$ cash. On December $1,$ Cullumber sells the stock investments for $$29,000$ in cash.

Journalize the purchase and sale of the common stock. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts.$)$