Question 9 (of 10) 3.00 points Problem 12-7 Securities held-to-maturity, securities available for sale, and tr Amalgamated General Corporation is a consulting firm that also offers financial services through its credit division. From time to time the company buys and securities intending to earn profits on short-term in The selected transactions during the last relate to algamated's investment activities quarter of 2016 and the first month of 2017. The only securities held by Amalgamated at October 1 were $55 million of 10% bonds of Kansas Abstractors, Inc., purchased on May 1 at face value. The company's fiscal year ends on December 31. 2016 Purchased 2 milion preferred shares of Milwork Ventures Company for S62 million as a Oct. 18 31 speculative investment to be sold under suitable circumstances, Nov 1 Received of s22 from Abstractors face value, fo be Purchased 10% bonds of Entertainment Enterprises at their $36 million held until they mature in 2018. Semiannual interest is payable April 30 and October 31 1 Sold the Abstractors because rising interest rates are expected to cause their fair value to continue to fall Dec. 1 sed 12% bonds of Plastics Corporation at their $80 million face value, to be held until they mature in 2028. Semiannual interest is payable May 31 and November 30. 20 Purchased U. S Treasury bonds for S6.1 million as trading securities, hoping to earn profits on short-term differences in prices. 21 Purchased 4 million common shares of Nxs Corporation for $54 million as trading securities, hoping to earn profits on short-term differences in prices. 23 Sold the Treasury bonds for $6.6 million. 29 Received cash dividends of $3 million from the Millwork Ventures Co 31 Recorded any necessary adjusting entry(s) preferred shares market price of the closing entries relating to he investments. The per share for the Millwork Ventures Company preferred stock was $29.00 per share and $15.50 million for NXS Corporation common. The fair values of the bond investments were $61.2 Household Plastics Corporation a S17.2 million for Holistic Entertainment Enterprises. 2017 Jan. 7 sold the Nxs Corporation common shares for s49 million prepare the appropriate journal entry for each transaction or event (If no try is required for a millions rounded select "No journal entry required" in the first account field. Enter your answers in to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).)