View Policies Current Attempt in Progress The following information is available for Martinez Company at December 31, 2020, regarding its investments. Securities Cost Fair Value 500 shares of Runner Corporation common stock $24,000 $39,000 7,400 shares of Sher-tor Corporation preferred stock 593,000 564,000 $617,000 $603,000 (a) Prepare the adjusting entry (if any) for 2020, assuming the securities are classified as trading. (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.) Account Titles and Explanation Unrealized Holding Gain or Loss - Equity Fair Value Adjustment Debit Credit (b) Prepare the adjusting entry (if any) for 2020, assuming the securities are classified as available-for-sale. (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.) Account Titles and Explanation Save for Later Debit Credit Attempts: 0 of 1 used Submit Answer