On December 21, 2017, Pearl Company provided you with the following information regarding its equity investments.

December 31, 2017
Investments (Trading)		Cost		Fair Value		Unrealized Gain (Loss)
Clemson Corp. stock		$18,300		$17,300		$(1,000	)
Colorado Co. stock		10,900		9,800		(1,100	)
Buffaloes Co. stock		18,300		18,920		620
Total of portfolio		$47,500		$46,020		(1,480	)
Previous fair value adjustment balance						0
Fair value adjustmentCr.						$(1,480	)

During 2018, Colorado Company stock was sold for $10,290. The fair value of the stock on December 31, 2018, was Clemson Corp. stock$17,390; Buffaloes Co. stock$18,830. None of the equity investments result in significant influence.

(a)		Prepare the adjusting journal entry needed on December 31, 2017.
(b)		Prepare the journal entry to record the sale of the Colorado Co. stock during 2018.
(c)		Prepare the adjusting journal entry needed on December 31, 2018.

no.	account titles and explanation	Debit	Credit
a)
b)
c)