O+ Ch. 12: Exercises 1,3, 5, 7-11, 13-15, 19, 21, 23, &2. Saved Help Save & Exit Submit 2 2 Check my work FF&T Corporation is a confectionery wholesaler that following selected transactions relate to FF&T's investment activities during the last two months of 2018. At November 1, FF&T held $40 million of 20-year, 12% bonds of Convenience, Inc., purchased May 1, 2018, at face value. Management ha ability to hold the bonds until maturity. FF&T's fiscal year ends o frequently buys and sells securities to meet various investment objectives. The 10 points Nov 1 Received semiannual interest of $2.4 million from the Convenience, Inc., bonds. Dec. 1 Purchased 158 bonds of Facsimile Enterprises at their $32 million face value, to be hel 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 31 Recorded any necessary adjusting entry(s) relating to the investments. Skipped $9.3 million. The fair values of the investments at December 31 were: eBook Convenience bonds Facsimile Enterprises bonds U.S. Treasury bills $36.7 million 32.9 million 9.3 million Print References 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).) View transaction list Journal entry worksheet View transaction list 1 Received semiannual interest of $2.4 million from the Convenience, Inc., bonds. 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. Purchased U.S. Treasury bills that mature in two months for $9.3 million. 3 4 Record the interest accrued. 5 Record the fair value adjustment Note:-journal entry has been entered Record entry Clear entry