Ex 5 McGee Company has the following data at December 31, 20X2. Securities (Portfolios) Trading Available-for-Sale* Cost Fair Value $ $ 120,000 100,000 $ $ 124,000 94,000 These are held as a long term investment a) Prepare the 2 Adjusting Entries on December 31, 20X2 to report these investments at their Fair Market Value. Date 1) 2) Account Name b) Post the above transactions in the "T" accounts below. Trading Securities 120,000 Debit Valuation Allowance for Trading Sec. Unrealized Gain (Loss)-Trading Sec. Available-for-Sale Sec. 100,000 Valuation Allowance for A-f-S Sec. Unrealized Gain (Loss) - A-F-S Sec. c) On which Financial Statement would these account be shown, and where in that Financial Stement? Financial Statement Where is it shown Trading Securities Valuation Allow-Trading Unrealized Gain (Loss) Trading Avail-for-Sale Sec. Valuation Allow-Avail-for-Sale Unrealized Gain (Loss) Avail-f-Sale Credit