Sunland Company has the following securities in its portfolio on December 31, 2020. None of these investments are accounted for under the equity method.

Investments		Cost		Fair Value
1,500 shares of Gordon, Inc., Common		$79,600		$74,700
5,000 shares of Wallace Corp., Common		170,900		165,800
400 shares of Martin, Inc., Preferred		65,800		67,200
		$316,300		$307,700

All of the securities were purchased in 2020. In 2021, Sunland completed the following securities transactions.

March 1		Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200.
April 1		Bought 700 shares of Earnhart Corp., Common, @ $75 plus fees of $1,300.

Sunlands portfolio of equity securities appeared as follows on December 31, 2021.

Investments		Cost		Fair Value
5,000 shares of Wallace Corp., Common		$170,900		$165,800
700 shares of Earnhart Corp., Common		53,800		50,000
400 shares of Martin, Inc., Preferred		65,800		64,000
		$290,500		$279,800

Prepare the general journal entries for Sunland Company for:

(a)		The 2020 adjusting entry.
(b)		The sale of the Gordon stock.
(c)		The purchase of the Earnhart stock.
(d)		The 2021 adjusting entry for the trading portfolio.

No. Account Titles and Explanation Debit Credit