Amalgamated General Corporation is a consulting firm that also offers financial services through its credit division. From time to time the company buys and sells securities. The following selected transactions relate to last quarter of 2018 and the first month of 2019. The only securities held by Amalgamated at October 1 were $30 million of Amalgamated's investment activities during the of Kansas Abstractors, Inc., purchased on May 1 at face value and held in Amalgamated's trading portfolio. The company's fiscal year ends on December 31 2018 oct. 18 Purchased 2 million preferred shares of Millwork Ventures Company for $s8 million. ived semiannual interest of $1.5 million from the Kansas Abstractors bonds Entertainment E Nov. 1 Purchased 10% bonds ds of Holistic Entertainment Enterprises at their $18 million face value, to be held until they mature in 2025. Semiannual interest is payable April 30 and October 31 continue to fall No unrealized gains and losses had been recorded on these bonds previously 2028. Semiannual interest is payable May 31 and November 3e prices prevailing market conditions encourage sale. 1 Sold the Kansas Abstractors bonds for $28 million because rising interest rates are expected to cause their fair value to 1 Purchased i2% bondsof Household PlasticsCorporation at their $60 million face value, to be held until they mature in 20 Purchased u. s. Treasury bonds for $5.6 million as trading securities, hoping to earn profits on short-tera differences in 21 Purchased 4 million common shares of NKS Corporation for $44 wil1ion, planning to earn profits from dividends or gains f Dec. 23 Sold the Treasury bonds for $5.7 miliion. 29 Received cash dividends of $3 million from the M122work Ventures Company preferred shares. 31 Recorded any necessary adjusting entry(s) and closing entries relating to the investments. The market price of the Mi11work Ventures Company preferred stock was $27.50 per share and $11.50 per share for the NXS Corporation common. The fair values of the bond investments were $58.7 million for Household Plastics Corporation and 516.7 aillion for Holistic Entertainment Enterprises Return t 2019 Jan. 7 Sold the NXS Corporation common shares for $43 million. Required Prepare the appropriate journal entry for each transaction or event. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) 3 Answer is not complete. Credit Debit General Journal Date Oct 18,2018 Investment in Milwork Ventures Company shares 5800 Cash 1 Cash 2 Oct 31, 2018 1.50 Interest revenue 18.00 3Nov 01, 2018 Investment in Holistic Entertainment bonds Cash 180 0 0-28 001 Nov 01, 2018Cash 4 Cash Nov 01, 2018 28.08 Loss on sale of investments 2.0 Investment in Kansas Abstractors bonds 30.0 5 Nov 01, 2018 Allowance for credit losses Loss on sale of investments 2.0 01, 2018 6 Investment in Household Plastics bonds Dec 60 00 Cash 60.0 Investment in U.S treasury bonds Dec 20, 2018 56 56 Cash 4400 8 Dec 21. 2018 Investment in NXS shares 44.0 Cash 5.7 3 Dec 23, 2018 Cash 56 0 investment in U.S treasury bonds 9 Dec 23, 2018 Cash 570 Investment in U.S. treasury bonds Gain on sale of investments 56 0.1 Gain on sale of investments 0.1 10 Dec 23, 2018 Allowance for credit losses 11 Dec 29, 2018Cash 3.0 Premium on bond investment 3050 Dec 31, 2018Gain on sale of investments 305 12 Investment in Millwork Ventures Company shares 0 30 5 13 Dec 31, 2018 Gain on sale of investments Investment in Millwork Ventures Company shares 32.5 32 5 3 Gain on sale of investments 14 Dec 31, 2018 Investment in NXS shares 12Dec3, 218 12 Dec 31, 2018Gain on sale of investments 30.58 Investment in Millwork Ventures Company shares 30 58 13 Dec 31, 2018 Gain on sale of investments 30.5 Investment in Milwork Ventures Company shares 3058 14 Dec 31, 2018 Gain on sale of investments 3 325 Investment in NXS shares 325 130 15 Jan 07.2019 Gain on sale of investments 1.3 3 Investment in Household Plastics bonds 1.3 8 16 Jan 07, 2019 13 03