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Answer Credit Journal Entries Accounts Titles & Explanation Unrealized Holding Gain or Loss -Income Fair Value Adjustment (To record the investement value adjusted) Debit 1,410 $ 1,410 $ $ 9,270 630 Cash Loss on Sale of Investements Equity Investment (To record Colardo stock sold) $ 9,900 $ 1,010 Fair Value Adjustment (working note) Unrealized Holding Gain or Loss -Income (To record the investement value adjusted) $ 1,010 workings Cost Investment (Trading) Clemson Corp. Stock Buffaloes Co. Stock Total of portfolio less: previous fair value adjustment Fair value adjustments December 31, 2021 Fair Value $ 18,600 $ 17,800 $ 18,600 $ 19,000 $ 37,200 $ 36,800 Unrealized Gain (Loss) $ (800) 400 $ (400) 1410 1,010
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