Brief Exercise 16-04 The cost of the trading debt securities of Ivanhoe Company at December 31, 2020, is $51,500. At December 31, 2020, the fair value of the securities is $19,350. Prepare the adjusting entry to record the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manes is required select "No entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Click if you would like to Show Work for this question: Open Show Work Brief Exercise 16-05 The cost of the trading securities of Pharoah Company at December 31, 2020, is $52,500. At December 31, 2020, the fair value of the securities is $50,250. Show the financial statement presentation of the trading securities and related accounts. PHAROAH COMPANY Balance Sheet (Partial) PHAROAH COMPANY Income Statement (Partial) Click if you would like to show Work for this question: Open Show Work