At December 31, 2020, the available-for-sale debt portfolio for Cheyenne, Inc. is as follows.

Security		Cost		Fair Value		Unrealized Gain (Loss)
A		$31,500		$27,000		$(4,500	)
B		22,500		25,200		2,700
C		41,400		45,900		4,500
Total		$95,400		$98,100		2,700
Previous fair value adjustment balanceDr.						720
Fair value adjustmentDr.						$1,980

On January 20, 2021, Cheyenne, Inc. sold security A for $27,180. The sale proceeds are net of brokerage fees.

Part 1

Part 2

Show the balance sheet presentation of the investment-related accounts at December 31, 2020. (Do not leave any answer field blank. Enter 0 for amounts.)

CHEYENNE, INC Balance Sheet
					$
AddLess:
					$

Part 3

Prepare the journal entry for the 2021 sale of security A. (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.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 20, 2021