You are engaged to examine the financial statements of Spruce Company for the year ended December $31.$ Assume that on November $1,$ Spruce borrowed $$500,000$ from Third Bank to finance plant expansion. The long$-$term note agreement provided for the annual payment of principal and interest over five years. The existing plant was pledged as security for the loan. Due to the unexpected difficulties in acquiring the building site, the plant expansion did not begin on time. To use the borrowed funds, management decided to invest in stocks and bonds and on November $16,$ invested the $ $500,000$ in publicly traded securities$.$ Required: Identify the relevant financial statement assertions for the publicly traded securities account $($an asset$)$ based on the PCAOB's five management assertions about the financial statements.