Question 2 --/1 View Policies Current Attempt in Progress On December 21, 2020, Sage Company provided you with the following information regarding its equity investments. December 31,2020 Investments (Trading) Unrealized Gain (Loss) Cost Fair Value $17,500 $18.400 $(900) Clemson Corp. stock Colorado Co. stock (1,000) 10,600 9,600 Buffaloes Co. stock 18,400 19,010 610 $47,400 $46,110 Total of portfolio (1,290) Previous fair value adjustment balance 0 Fair value adjustment-Cr $(1,290) During 2021, Colorado Co. stock was sold for $10,1 10. The fair value of the stock on December 31, 2021, was Clemson Corp. stock-$17,600; Buffaloes Co.stock-$18,920. 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 to record the sale of the Colorado Co. stock during 2021. (c) 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 O for the amounts.) No. Account Titles and Explanation Credit Debit (a) (b) (c)