Question 8 of 8 < > View Policies - /20 Current Attempt in Progress In 2020, Pina Colada Limited purchased shares of Gurvir Corp. at a cost of $47,000. This was the first time the company had ever acquired an investment to be accounted for at fair value through other comprehensive income (FV-OCI). At December 31, 2020, the Gurvir Corp. shares had a fair value of $38,500. Pina Colada Limited's income tax rate is 30%. Assume that any gains that are ultimately realized on the sale of the Gurvir Corp. shares will be taxable as ordinary income when the gains are realized. Prepare the necessary journal entries to record the unrealized loss and the related income taxes in 2020. (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, 2020 December 31, 2020 (To record fair value adjustment) (To record deferred taxes on fair value adjustment) eTextbook and Media List of Accounts Question Part Score Debit Credit --/8