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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

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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 folliowing 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 $30 mililon of 10% bonds of Kansas Abstractors, Incorporated purchased on May 1, 2024 at face value and held in Amalgamated's trading securities portfolla. The company's fiscol year ends on December 31 . total of 30=111 ion shares insued. Detober 31, 2024 seceived senisneanl interest of $1.5 milion fron the Kansas Nbstractors boeds. until tbey nature in 2034 . Semiannal iaterest is payable April 30 and October 31. Noweaber 1, 2024 sold the Kansas Abstractors bonds for $28 milition because risiag intereat ratea are expeeted to eause theif falt value to costinoe to fall. No unrealized gains and losses had been recorded on these bonds previlously. Decenber 1, 2024 Parehaned 120 bonds of Mousehold plastice Corporation at their $60 million tace value, to be held uneil they mature in 2034 . Seniennaal istereat is paymble May 33 and Novenber 20. Decenber 20,2024 parchased U, 8 . Treasury boedn for $5.6 mililion as trading securities, hopisg to earn profits on shert-term differences in prices. planning to bold these shares until parket eonditions encourage their sale. Decenber 23,2024 . Sold the Freasury bonde for $5.7 aililon. Decenber 29, 2024 Meceived cash dividends of $3 alilibe fron the Millvork Ventures conpany shares of ccomoon stock. Ventures Company oomion stock vas $27,50 per ahare and $11,50 per abare for the vxs corporation ecrean stoek. The fair values of the bond isveatsenta were $58,7 million for llousebold plastics corporatien and $16.7 milion for Holiste Entertainast Enterprises. Required: Prepare the appropriate journal entry for each transaction or event. Use one summary entry on December 31 to adjust the portiofio 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 intermodiate calculations. Enter your answers in millions rounded to 1 decimal place, (Le, 5,500,000 should be entered as 5.5)

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