On December 31, 2019, Bridgeport Corp. provided you with the following pre-adjustment information regarding its portfolio of investments held for short-term profit-taking:

		December 31, 2019
Investments		Carrying Amount				Fair Value
Moonstar Corp. shares			$22,000			$21,100
Bilby Corp. shares			11,000			10,000
Radius Ltd. shares			22,200			22,900
Total portfolio			$55,200			$54,000

During 2020, the Bilby Corp. shares were sold for $10,500. The fair values of the securities on December 31, 2020, were as follows: Moonstar Corp. shares $21,600 and Radius Ltd. shares $22,800. The company does not recognize and report dividends and other components of investment gains and losses separately. Prepare the adjusting journal entry needed on December 31, 2019. (Credit account titles are automatically indented when the 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.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

Prepare the journal entry to record the sale of the Bilby Corp. shares during 2020. (Credit account titles are automatically indented when the 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.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

Prepare the adjusting journal entry needed on December 31, 2020. (Credit account titles are automatically indented when the 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.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts