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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

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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 2018. At November 1, FF&T held $48 million of 20-year, 10% bonds of Convenience, Inc., purchased May 1, 2018, 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 ecaee Mley' 8. auMangement has the positive intent and Nov. 1 Received semiannual interest of $2.4 million from the Convenience, Inc., bonds Dec. 1 Purchased 12% bonds of Facsimile Enterprises at their $40 million face value, to be held until they mature in 2024. Semiannual interest is payable May 31 and November 30 1 Purchased U.S. Treasury bills to be held until they mature in two months for $10.9 million 31 Recorded any necessary adjusting entry(s) relating to the investments. The fair values of the investments at December 31 were: $45.2 million Convenience bonds Facsimile Enterprises bonds 40.5 million U.S. Treasury bills 10.9 million Required: Prepare the appropriate journal entry for each transaction or event. View transaction list View journal entry worksheet 1 Received semiannual interest of $2.4 million from the Convenience, Inc., bonds. Purchased 12% bonds of Facsimile Enterprises at their $40 million face value, to be held until they mature in 2024. Semiannual interest is payable May 31 and November 30 Purchased U.S. Treasury bills that mature in two months for $10.9 million. 4 Record the interest accrued. 5 Record the fair value adjustment

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