The unadjusted trial balance of Sheffield Inc. at its year ended December 31, 2020 had the following investments that are held for trading Carrying Fair Amount Value Kirkland Inc. $2 non-cumulative preferred shares (2,200 shares) $ 88,000 $ 87,380 Liskeard Ltd. common shares (500 shares) 24,000 26,000 $112,000 $113,380 The following are transactions that occurred during 2021. Mar. 1 Received the quarterly cash dividend on the Kirkland Inc. preferred shares. June 1 Received the quarterly cash dividend on the Kirkland Inc. preferred shares. June 10 Sold 1.100 Kirkland Inc. preferred shares at $42.75 each. July 15 Received a cash dividend on the Liskeard Ltd. share of $3.75 per share. Sept. 1 Received the quarterly cash dividend on the Kirkland Inc. preferred shares. Dec. 1 Received the quarterly cash dividend on the Kirkland Inc, preferred shares. At December 31, 2021, the Kirkland Inc. preferred shares were trading at $42.25 and the Liskeard Ltd. common shares were trading at $50.44. Record any necessary adjusting entry at December 31, 2020. (Credit account titles are automatically indented when the amouni required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places, eg. 5,274 Debit Credit Date Account Titles and Explanation Dec. 31, 2020 Record the above transactions for 2021 and any required adjusting entries at December 31, 2021. (Credit account titles are automatically inde indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to 0 decimal the order presented in the problem.) Date Account Titles and Explanation Debit Credit