You have just joined a CPA firm. Your manager is impressed with the recommendations that you provided on the reporting of securities for the client.He comes in and says You did a great job! The client was thrilled with the recommendations.Your manager has another consulting assignment. He asked you to prepare for him the entries and financial statement presentation for both of the following situations:Available-for-sale securitiesCostFair Value2000 shares of ABC stock$30000$350001000 shares of XYZ stock$20000$18000Total$50000$53000Available for trading securitiesCostFair Value4000 shares of ABC stock$40000$350002000 shares of XYZ stock$30000$20000Total$70000$55000

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