On December 21, 2020, Bridgeport Company provided you with the following information regarding its equity investments.

Securities		Cost		Fair Value		Unrealized Gain (Loss)
SC Corp. stock		$39,100		34,980		$(4,120	)
True Co. stock		53,500		60,060		6,560
Plus, Inc. stock		30,400		30,124		(276	)
Total of portfolio		$123,000		$125,164		2,164
Previous fair value adjustment balance						-0-
Fair value adjustment Dr.						$2,164

During 2021, the Plus, Inc. stock was sold for $30,940. The fair value of the stock on December 31, 2021, was: SC Corp. stock$36,200; True Co. stock$55,850. None of the equity investments result in significant influence.

Prepare the adjusting journal entry needed on December 31, 2020. (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 0 for the amounts.)

Prepare the journal entry to record the sale of the Plus, Inc. stock during 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 0 for the amounts.)

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 0 for the amounts.)