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 2024 and the first month of 2025 . The only securities held by Amalgamated at October 1, 2024 were $35 million of 10% bonds of Kansas Abstractors, Incorporated purchased on May 1, 2024 at face value and held in Amalgamated's trading securities portfolio. The company's fiscal year ends on December 31. October 18, 2024 Purchased 2 miltion shares of Miltwork Ventures Conpany connon 5 tock for $55 million. Miltwork has a total of 32 allition shares issued. October 32, 2024 Received seniannual interest of $2.1 million fron the Kansas Abstractors bonds. November 1, 2824 Parchased 10% bonds of Holistic Entertainnent Enterprises at their $18million face vatue, to be held until they nature in 2034. Semiannual interest is payable April 30 and October 31. November 1, 2024 Sold the Kansas Abstractors bonds for $32 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. previousty. Decenber 1, 2824 Decenber 20, 2024 Decenber 21, 2824 December. 23, 2024 Decenber 29,2824 Decenter 31, 2824 Purchased 12h bonds of Household Plastics Corporation at their $60 mitlion face value, to be held unt 11 they nature in 2034 . Semiannual interest is payable May 31 and Novenber 30 . Purchased U. 5. Treasury bonds for $5.7 mitlion as trading securities, hoping to earn profits on short-tere differences in prices. Purchased 4 mittion shares of tox corporation's 46 million shares of comnon stock for $46 miltion, planning to hold these shares until market conditions encourage their sate. Sold the Treasury bonds for $5.8 million. Received cash dividends of $5 million from. the Millwork Ventures Company shares of comnon stock. Recorded any necessary adjusting entries relating to the investnents. The market price of the Mitlwork Ventures Company comnon stock was $25. 00 per share and $12,50 per share for the Nos Corporation conmon stock. The fair values of the bond investments were $59.1 miltion for Household plastics Corporation and $16.8 nilion for Holistic Entertainment Enterprises. January 7. 2225 Sold the wos Corporation tommon stock shares for $45 mithion. Required: Prepare the appropriate joumal entry for each transaction or event. Use one summary entry on December 31 to adjust the portfolio of equity investments to fair value. Note: 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 ). 1 Record the purchase of 2 million shares of Millwork Ventures Company common stock for $55 million. 2 Record the receipt of semiannual interest of $2.1 million from the Kansas Abstractors bonds. 3 Record the purchase of 10% bonds of Holistic Entertainment Enterprises at their $18 million face value. 4. 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. equity investments to fair value. Note: 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 ). 6 Record the purchase of 12% bonds of Household Plastics Corporation at their $60 million face value. 7 Record the purchase of U.S. Treasury bonds for $5.7 million. A. Record the purchase of 4 mililion common shares of NXS Corporation for $46 million. 9 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 $5.8 million. 11 Record the receipt of cash dividends of $5 milion from the Millwork Ventiures Comnanu mmmen ehares Mrepare the appropnate journat entry ror each transaction or ovent, use one summary entry on vecemoer si to agust the porttonio or equity investments to fair value. Note: 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). 11. Record the receipt of cash dividends of $5 million from the Millwork Ventures Company common shares. 16 12 Record the accrued interest for Holistic Entertainment bonds. 13 Record the accrued interest for Household Pastics 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 $45 million. Note : C= journal entry has been entered