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1:11 PM Sun Feb 9 20% C16 #2 Exercise 16-12a-b (Video) Cullumber Company has the following data at December 31, 2020. Securities Fair Value Trading Available for sale Cost $119,400 102,100 $126,900 90,500 The available-for-sale securities are held as a long-term investment Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) No Account Titles and Explanation (1) Fair Value Adjustment Trading Unrealized Gain or Loss-Equity (2) Unrealized Gain or Loss-Equity Fair Value Adjustment-Available for Sale 11600 Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts. Cullumber Company Balance Sheet (l'artial) December 31, 2020 Current Assets Short-term, at fair value s 126900 Investments Debt investments, at fair value 90500 Stockholders' Equity Less Accumulated Other Comprehensive Income 11600 Cullumber Company Income Statement (Partial) For the Year Ended December 31, 2020 20% 1:11 PM Sun Feb 9 90500 Debt investments at falt value Stockholders' Equity 11600 Less Accumulated Other Comprehensive Income Cullumber Company Incense Statement (Partial) For the Year Ended December 31, 2020 Other Revenues and Gains Unrealized Gain on Trading Securities S 7 500 Cullumber. Company Comprehensive Income Statement For the Year Ended December 31, 2020 Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 3 used