Book Print FF&T Corporation is a confectionery wholesaler that frequently buys and sells securities to meet various investment objectives. The following selected transactions relate to FF&T's investment activities during the last two months of 2021. At November 1, FF&T held $40 million of 20-year, 12% bonds of Convenience, Inc., purchased May 1, 2021, at face value. Management has the positive intent and ability to hold the bonds until maturity. FF&T's fiscal year ends on December 31. erences Nov. Dec. 1 Received semiannual interest of $2.4 million from the Convenience, Inc., bonds. 1 Purchased 15% bonds of Facsimile Enterprises at their $32 million face value, to be held until they mature in 2024. Semiannual interest is payable May 31 and November 30. 31 Purchased U.S. Treasury bills to be held until they mature in two months for $9.3 million. 31 Recorded any necessary adjusting entry(s) relating to the investments.