Question: View Policies Current Attempt in Progress Cost and fair value data for the trading debt securities of Pharoah Company at December 31, 2022, are $58,000

View Policies Current Attempt in Progress Cost and fair value data for the trading debt securities of Pharoah Company at December 31, 2022, are $58,000 and $55,200 respectively. Prepare the adjusting entry to record the securities at fair value. (List all debit entries before credit entries. 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 O for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit

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