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On December 21, 2020, Marin Company provided you with the following information regarding its equity investments. During 2021, Colorado Co. stock was sold for $9,750.

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On December 21, 2020, Marin Company provided you with the following information regarding its equity investments. During 2021, Colorado Co. stock was sold for $9,750. The fair value of the stock on December 31, 2021, was Clemson Corp. stock\$19,000; Buifaloes Co, stock- $20.350. None of the equity investments result in significant influence. (a) Prepare the adjusting journal entry needed on December 31,2020 . (b) Prepare the journal entry torecord the sale of the Colorado Co stock during 2021 (c) Prepare the adjusting iournal entry needed on December 31,2021. (Credit account tities are outomotically indented when amount is entered. Do not indent manuall, If no entry is nequired, select "No Enter" for the ocoount tities and enter 0 for the amounts)

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