Journal Entry worksheet:

1. Received semiannual interest of $1.2 million from the Convenience, Inc., bonds.

2. Purchased 10% bonds of Facsimile Enterprises at their $24 million face value, to be held until they mature in 2024. 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 $9.5 million.

4. Record the interest accrued on Convenience, Inc. bonds.

5. Record the interest accrued on Facsimile Enterprises bonds.

6. Prepare any journal entry needed to adjust the investments for fair value.

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 $30 million of 25-year, 8% 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. Nov. 1 Received semiannual interest of $1.2milli ion from the Convenience, Inc., bonds. Dec. 1 Purchased 10% bonds of Facsimile Enterprises at their $24 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 $9.5milli. 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. (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).) Journal entry worksheet