American Surety and Fidelity buys and sells securities expecting to earn profits on short-term differences in price. For the first 11 months of 2018, gains from selling trading securities totaled $4 million, losses were $11 million, and the company had earned $5 million in investment revenue. The following selected transactions relate to American's trading account and equity securities investment account during December 2018, and the first week of 2019. The company's fiscal year ends on December 31. No trading securities were held by American on December 1, 2018. 2018 Dec. 12 Purchased FF&G Corporation bonds for $21 million. 13 Purchased 2 million Ferry Intercommunications common shares for $26 million. 15 Sold the FF&G Corporation bonds for $21.9 million. 22 Purchased U.S. Treasury bills for $66 million and Treasury bonds for $74 million. 23 Sold half the Ferry Intercommunications common shares for $11 million. 26 Sold the U.S. Treasury bills for $69 million. 27 Sold the Treasury bonds for $72 million. 28 Received cash dividends of $200,000 from the Ferry Intercommunications common shares. 31 Recorded any necessary adjusting entry(s) and closing entries relating to the investments. The market price of the Ferry Intercommunications stock was $11 per share. 2019 Jan. 2 Sold the remaining Ferry Intercommunications common shares for $11.4 million. 5 Purchased Warehouse Designs Corporation bonds for $43 million. Prepare the appropriate journal entry for each transaction or event during 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).)

8.Record the entry to adjust to fair value on the date of sale of the U.S. Treasury bills

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 26, 2018

9.Record the entry for sale U.S. Treasury bills for $69 million.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 26, 2018

10.Record the entry to adjust to fair value on the date of sale of the U.S. Treasury bonds

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 27, 2018

11.Record the entry for sale Treasury bonds for $72 million.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 27, 2018

12.Record the entry for cash dividend received of $200,000 from the Ferry Intercommunications common shares.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 28, 2018

13. Record the entry for Fair-value adjustment.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
December 31, 2018