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 $$60$ million of $10\%$ bonds of Kansas Abstractors, Incorporated purchased on May $1,2024$ at face value and held in Amalgamated's trading securities portfolio. The company's fiscal year ends on December $31.$October $18,2024$ Purchased $2$ million shares of Millwork Ventures Company common stock for $$71$ million. Millwork has atotal of $70$ million shares issued.October $31,2024$ Received semiannual interest of$$2\mathrm{.}4$ million from the Kansas Abstractors bonds.November $1,2024$ Purchased $10\%$ bonds of Holistic Entertainment Enterprises at their $$18$ million face value, to be held until they mature in $2034.$ Semiannual interest is payable April $30$ and October $31.$November $1,2024$Sold the Kansas Abstractors bonds for $$53$ million because rising interest rates are expected to causeKansas Abstractors bonctheir fair value to continue to fall. No unrealized gains and losses had been recorded on these bonds previously.December $1,2024$Purchased $12\%$ bonds of Household Plastics Corporation at their $$60$ million face value, to be held until they mature in $2034.$ Semiannual interest is payable May $31$ and November $30\mathrm{.}31$ and embDecember $20,2024$Purchased U$.$ S$.$ Treasury bonds for $$7\mathrm{.}6$ million as trading securities$,$ hoping to earn profits on short$-$term differences in prices.December $21,2024$Purchased $4$ million shares of NXS Corporation's $56$ million shares of common stock for $$56$ million, planning to hold these shares until market conditions encourage their sale.December $23,2024$ Sold the Treasury bonds for $$7\mathrm{.}8$ million.December $29,2024$Received cash dividends of $$11$million from the Millwork Ventures Company shares of common stock.December $31,2024$Recorded any necessary adjusting entries relating to the investments. The market price of the Millwork Ventures Company common stock was $$30\mathrm{.}00$ per share and $$16\mathrm{.}50$ per share for the NXS Corporation common stock. The fair values of the bond investments were $$59\mathrm{.}2$ million for Household Plastics Corporation and $$16\mathrm{.}4$ million for Holistic Entertainment Enterprises.January $7,2025$ 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.