The investments of Virgil Corporation include 12,500 shares of Krystal Inc. common stock purchased on January 10, 2018 for $39 per share. These shares were classified as Trading Securities. As of December 31, 2018, assume that the share fair market prices decline to $30 per share. As of December 31, 2019, assume that the share fair market price is then $35 per share.

Required:

1. Prepare the December 31, 2018, and December 31, 2019 adjusting journal entries to record the unrealized gain or loss on Trading Securities.