On December 21, 2020, Ayayai Company provided you with the following information regarding its equity investments. December 31, 2020 Investments (Trading) Cost Fair Value Clemson Corp. stock $19,200 $18,300 Colorado Co. stock 9,500 8,600 Buffaloes Co. stock 19,200 19,800 Total of portfolio $47,900 $46,700 Previous fair value adjustment balance Fair value adjustment-Cr. Unrealized Gain (Loss) $1900) (900) 600 (1,200) $(1,200) During 2021, Colorado Co. stock was sold for $9,150. The fair value of the stock on December 31, 2021, was Clemson Corp. stock- $18,400; Buffaloes Co.stock-$19,690. None of the equity investments result in significant influence. (a) (b) (c) Prepare the adjusting journal entry needed on December 31, 2020. Prepare the journal entry to record the sale of the Colorado Co.stock during 2021. Prepare the adjusting journal entry needed on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Debit Credit No. Account Titles and Explanation (a) Unrealized Holding Gain or Loss -Income 1,200 Fair Value Adjustment 1,200 (b) Cash 9,150 Loss on Sale of Investments 350 Equity Investments 9,500 (C) Fair Value Adjustment 310 Unrealized Holding Gain or Loss -Income 310