Pharoah Technologies Inc. held a portfolio of shares and bonds that it accounted for using the fair value through other comprehensive income model at December 31, 2023. This was the first year that Pharoah had purchased investments. In part due to Pharoah's inexperience, by December 31, 2023, the market value of the portfolio had dropped $28,400 below its original cost. Pharoah recorded the necessary adjustments at December 31, 2023, and was determined to hold the securities until the unrealized loss from 2023 could be recovered. By December 31, 2024, Pharoah's goal of recovery had been realized and the original portfolio of shares and bonds had a fair market value $6,800 higher than the original purchase costs. Pharoah's income tax rate is 30% for all years. Assume that any gains that will ultimately be realized on the sale of the shares and bonds are taxable as ordinary income when they are realized. Pharoah applies IFRS. (a) Prepare the journal entries at December 31, 2023, to accrue the unrealized loss on Pharoah's securities and the related income tax. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation December 31, 2023 December 31, 2023 (To record fair value adjustment) (To record deferred taxes on fair value adjustment) Debit Credit