FF&T Corporation Is a confectionery wholesaler that frequently buys and sells securities to meet various investment objectives. The $2$ Purchased $12\%$ bonds of Facsimile Enterprises at their

$$60$ million face value, to be held until they mature in

Semiannual interest is payable May $31$ and

November $30.$

$3$ Purchased U$.$S$.$ Treasury bills to be held until they mature

in two months for $$10\mathrm{.}2$ million.

$4$ Record the interest accrued on Convenience,

Incorporated bonds.

$5$ Record the interest accrued on Facsimile Enterprises

bonds.

$6$ Prepare any journal entry needed to adjust the

investments for fair value.

Note : $=$ journal entry has been entered

following selected transactions relate to FF&T$\text{'}$s investment activities during the last two months of $2024.$ At November $1,$ FF&T held

$$72$ million of $25-$year, $10\%$ bonds of Convenience, Incorporated, purchased May $1,2024,$ at face value. Management has the positive

Intent and ability to hold the bonds until maturlty. FF&T$\text{'}$s fiscal year ends on December $31.$

November $1$ Received semiannual interest of $$3\mathrm{.}6$ million from the Convenience, Incorporated, bonds.

December $1$ Purchased $12\%$ bonds of Facsimile Enterprises at their $$60$ million face value, to be held until they mature in $2027.$

Semiannual interest is payable May $31$ and November $30.$

December $31$ Purchased U$.$S$.$ Treasury bills to be held until they mature in two months for $$10\mathrm{.}2$ million.

December $31$ Recorded any necessary adjusting entry$($s$)$ relating to the investments.

The fair values of the investments at December $31$ were:

Required:

Prepare the appropriate journal entry for each transaction or event.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" In the first account fleld. Enter your answers

In millions rounded to $1$ decimal place $($l$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$

Journal entry worksheet

$2$

$3$

$4$

$5$

$6$

Received semiannual interest of $$3\mathrm{.}6$ million from the Convenience,

Incorporated, bonds.

Note: Enter debits before credits.