FF&T Corporation is a confectionery wholesaler that frequenty buys and sells securties 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. Nov. Received semiannual interest of $2.4 million from the Convenience, Inc., bonds. Dec. 1 Purchased 12% bonds of Facsimile Enterprises at their $30 million face value, to be held until I they mature in 2024. Semiannual interest is payable May 31 and November 30. Purchased U.S. Treasury bills to be held until they mature in two months for $8.9 million. Recorded any necessary adjusting entry s) relating to the investments. 31 31 The fair values of the investments at December 31 were: Convenience bonds Facsimile Enterprises bonds US. Treasury bills 44.7 million 0.9 million 8.9 million