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 Amalgamated's investment activities during the last quarter of 2021 and the first month of 2022. The only securities held by Amalgamated at October 1, 2021 were $30 million of 10% bonds of Kansas Abstractors, Inc., purchased on May 1, 2021 at face value and held in Amalgamated's trading securities portfolio. The company's fiscal year ends on December 31 2821 Oct. 18 Purchased 2 million shares of Millwork Ventures Company common stock for $58 sillion. Millwork has a total of 30 million shares issued 31 Received seniannual interest of $1.5 million from the Kansas Abstractors bonds. Nov. 1 Purchased lex bonds of Holistic Entertainment Enterprises at their $18 million face value, to be held until they mature in 2031. Seniannual interest is payable April 30 and October 31. 1 Sold the Kansas Abstractors bonds for $28 million because rising interest rates are expected to cause their fair value to continue to fall. No unrealized gains and losses had been recorded on these bonds previously. Dec. 1 Purchased 12% bonds of Household Plastics Corporation at their $60 million face value, to be held until they nature in 2031. Semiannual interest is payable May 31 and November 30. 20 Purchased U. S. Treasury bonds for $5.6 million as trading securities, hoping to earn profits on short-term differences in 21 Purchased a million shares of a Corporation's so million shares of common stock for $44 million, planning to hold these shares until market conditions encourage their sale 23 Sold the Treasury bonds for 55.7 million 29 Received cash dividends of $1 million from the Millwork Ventures Company shares of common stock 31 Recorded any necessary adjusting entries relating to the investiments. The market price of the Millwork Ventures Company common stock was $27.50 per share and $11.58 per share for the NX Corporation common stock. The fair values of the bond investments were $58.7 million for Household plastics Corporation and $16.7 million for Holistic Entertainment Enterprises 2022 Jan sols the Nos Corporation cannon stock shares for $43 lion Required: Prepare the appropriate journal entry for each transaction or event Use one summary entry on December 31 to adjust the portfolo of equity Investments to fair value. (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 millons rounded to 1 decimal place. (.e. 5.500.000 should be entered as 5.5).) Answer is not complete. Required: Prepare the appropriate journal entry for each transaction or event Use equity investments to fair value. (if no entry is required for a transactio account field. Do not round Intermediate calculations. Enter your ans should be entered as 5.5).) View transaction list View journal entry worksheet x Record the purchase of 2 million shares of Millwork Ventures Company common stock for $58 million. 2 Record the receipt of semiannual interest of $1.5 million from the Kansas Abstractors bonds. Record the purchase of 10% bonds of Holistic Entertainment Enterprises at their $18 million face value. Record the entry to adjust to fair value the investment in Kansas Abstractor bonds on the date of sale. 5 Record the sale of the investment in Kansas Abstractors bonds. Deard the archana af henden Hansehala natin Note journal entry has been enterer X Record the purchase of 12% bonds of Household Plastics Corporation at their $60 million face value. Record the purchase of U.S. Treasury bonds for $5.6 million. B Record the purchase of 4 million common shares of NXS Corporation for 544 million. Record the entry to adjust to fair value the investment in U.S. Treasury bonds on the date of sale. 10 Record the sale of the Treasury bonds for $5.7 million. Record the receipt of cash dividends of 53 million from the Millwork Ventures Company common shares. Note = journal entry has been entered View transaction list View journal entry worksheet X 11 Record the receipt of cash dividends of $3 million from the Millwork Ventures Company common shares. 12 Record the accrued interest for Holistic Entertainment bonds. 13 Record the accrued interest for Household Plastics bonds. 14 Record the entry to adjust the securities to fair value. 15 Record the entry to adjust to fair value the investment in NXS Corporation common shares on the date of sale. 16 Record the sale of the NXS Corporation common shares for 543 million. Note: = journal entry has been entered