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 570 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 2021 Oct. 18 Purchased 2 million shares of Millwork Ventures company common stock for $71 million Millwork has a total of 70 million shares issued 31 Received semiannual interest of $3.5 million from the Kansas Abstractors bonds Nov. 1 Purchased 10% 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 568 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 she million face value, to be held until they mature in 2031. Semiannual interest is payable May 21 and November 30. 20 Purchased u. 5. Treasury bonds for $7.6.lilon as trading securities, hoping to earn profits on short-tere differences in prices. 21 Purchased 4 million shares of Nxs Corporations sa milion shares of common stock for $56 million, planning to hold these shares until market conditions encourage their 23 Sold the Treasury bonds for 57.8 million 29 Received cash dividends of $11 million from the work Ventures Company shares of common stock 31 Recorded any necessary adjusting entries relating to the investments. The market price of the Hork Venture Company common stock was $30.00 per share and $16.50 per share for the NX Corporation Coron stock. The fole values of the bond Investments were $59.2 million for Household Plastics Corporation and $16.4 allon for Holistic Entertainment Enterprises ans shares until market conditions encourage their sale. 23 Sold the Treasury bonds for $7.8 million 29 Received cash dividends of $11 million from the Millwork Ventures Company shares of common stock. 31 Recorded any necessary adjusting entries relating to the Investments. The market price of the Millwork Ventures Company common stock was $30.00 per share and $16.50 per share for the NXS Corporation common stock. The fair values of the bond investments were $59.2 million for Household Plastics Corporation and $16.4 million for Holistic Entertainment Enterprises 2022 Jan. 7 sold the Nxs Corporation common stock shares for $54 million Required: Prepare the appropriate journal entry for each transaction or event. Use one summary entry on December 31 to adjust the portfolio 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 millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) Answer is not complete. General Journal Credit No Date Oct 18, 2021 Debit 710 1 Investment in equity securities Cash 710 Answer is not complete. No Date 1 Oct 18, 2021 Credit General Journal Investment in equity securities Cash Debit 710 71.0 2 Oct 31, 2021 Cash Interest revenue 35 OS 3.5 3 Nov 01, 2021 180 Investment in bonds Cash 30 18.0 4 Nov 01, 2021 Loss on investment (unrealized, NI) Fair value adjustment 00 5 Nov 01, 2021 Cash Fair value adjustment 6 Dec 01, 2021 Investment in bonds 12 Dec 31, 2021 Interest receivable Investment in bonds 13 Dec 31, 2021 Loss on investment (unrealized, NI) Fair value adjustment 14 Dec 31, 2021 Fair value adjustment Gain on investment (unrealized, NI) 15 Jan 07, 2022 Loss on investment (unrealized, NI) Fair value adjustment 16 Jan 07, 2022 Cash Fair value adjustment Investment in equity securities 6 Dec 01, 2021 Investment in bonds Cash 7 Dec 20, 2021 Investment in bonds Cash O 8 Dec 21, 2021 Investment in equity securities Cash 9 Dec 23, 2021 Fair value adjustment Gain on investment (unrealized, NI) 10 Dec 23, 2021 Cash Fair value adjustment Olo 11 Dec 29, 2021 Cash Dividend revenue 12 Dec 31, 2021 Interest receivable