Brief Exercise 147 a-b (Part Level Submission) At December 31, 2020, the trading securities portfolio held by the Darren Corporation consisted of the following investments: 1. 2. 2,000 shares of Temper common stock purchased for $42 per share. 1,500 shares of Logan common stock purchased for $50 per share. At December 31, 2020, the fair values per share were Temper $38 and Logan $54. (a) Your answer is correct. Prepare a schedule showing the cost and fair value of the portfolio at December 31, 2020. Security Cost Fair Value Temper 8 4000 76000 Logan 75000T 81000 Totals 159000 157000 Click if you would like to Show Work for this question: Open Show Work Your answer is partially correct. Try again. Prepare the adjusting entry to report the portfolio at fair value at December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 ||Fair Value Adjustment-Available-for-Sale 2000 Unrealized Gain or Loss-Equity Unrealized Gain or Loss-Equity I I 2000 Click if you would like to Show Work for this question: Open Show Work Brief Exercise 147 a-b (Part Level Submission) Cash Debt Investments Dividend Revenue Fair Value Adjustment-Available-for-Sale Fair Value Adjustment-Trading Gain on Sale of Debt Investments Gain on Sale of Stock Investments Interest Receivable Interest Revenue Loss on Sale of Debt Investments Loss on Sale of Stock Investments No Entry Revenue from Stock Investments Short-Term Investments Stock Investments Unrealized Gain or Loss-Equity Unrealized Gain-Income Unrealized Loss-Income