Prepare adjusting entry asing fair value. BEI 6.6 (LO 3) In its first year of operations, Godfrey Corporation purchased, as a long-term investment, available-for-sale debt securities costing $72,000. At December 31, 2020, the fair value of the securities is $68,000. Prepare the adjusting entry to record the securities at fair value. Prepare adjusting entry using fair value. BE16.6 (LO 3) In its first year of operations, Godfrey Corporation purchased, as a long-term investment, available-for-sale debt securities costing $72,000. At December 31, 2020, the fair value of the securities is $68,000. Prepare the adjusting entry to record the securities at fair value. Indicate statement presentation using BE16.7 (LO 3) Financial Statement For the data presented in BE16.6, show the financial statement Jair value. presentation of the securities and related accounts. Assume the securities are noncurrent