2 On December 21, 2025, Swifty Company provided you with the following information regarding its equity investments. December 31, 2025 Investments Cost Fair ValueUnrealized Gain (Loss) Clemson Corp. stock $19,200 $18,300 $(900) Colorado Co. stock 9,500 8,600 (900) Buffaloes Co. stock 19,200 19,800 600 Total of portfolio $47,900 $46,700 (1,200) Previous fair value adjustment balance 0 Fair value adjustment-Cr. $(1, 200) During 2026, Colorado Co. stock was sold for $9, 150. The fair valueof the stock on December 31, 2026, was Clemson Corp. stock-$18,400; Buffaloes Co. stock-$19,690. None of the equity investments result in significant influence. (a)Prepare the adjusting journal entry needed on December 31, 2025. (b) Prepare the journal entry to record the sale of the Colorado Co. stock during 2026. (c) Prepare theadjusting journal entry needed on December 31, 2026. (List all debit entries before credit entries. 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 0 for the amounts.) No. Date Account Titles and Explanation Debit Credit (a)choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter debit amount enter a credit amount (b) choose atransaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account titleenter a debit amount enter a credit amount (c) choose a transaction date enter an account title enter a debit amount

Adjusting Entry -An adjustment journal entry is a general ledger entry made by a business at the…

2025, Swifty Company provided you with the following information regarding its equity investments. December 31, 2 oss) Clemson Corp. stock $19,200 $18,300 $(900) Colorado Co. stock 9, 500 8, 600 (900) Buffaloes Co. stock 19, 200 ,200) Previous fair value adjustment balance 0 Fair value adjustment-Cr. S(1,200) During 2026, Colorado Co. stock tember 31, 2026, was Clemson Corp. stock-$18,400; Buffaloes Co. stock-$19,690. None of the equity investment ng journal entry needed on December 31, 2025. (b) Prepare the journal entry to record the sale of the Colorado Co. ntry needed on December 31, 2026. (List all debit entries before credit entries. Credit account titles are automatically ually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Date Account Ti on date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount ter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a cre