WORKOUT THE JOURNAL ENTRY WORKSHEETS

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 $48 million of 20-year, 10% 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. Dec. 1 Received semiannual interest of $2.4 million from the Convenience, Inc. bonds. 1 Purchased 12% bonds of Facsimile Enterprises at their $38 million face value, to be held until they mature in 2024. Semiannual interest is payable May 31 and November 3e. 31 Purchased U.S. Treasury bills to be held until they mature in the months for $3.9 million. 31 Recorded any necessary adjusting entry(s) relating to the investments. The fair values of the Investments at December 31 were: Convenience bonds Facsimile Enterprises bonds U.S. Treasury bills $44.7 million 30.9 million 8.9 million 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 1st. Journal entry worksheet 1 2 3 4 5 Received semiannual interest of $2.4 million from the Convenience. Inc., bonds. te Elite Date General Journal Debit Credit 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 $AB million of 20-year, 10% 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 seniannual 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 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 $8.9 million. 31 Recerded any necessary adjusting entry(s) relating to the investments. The fair values of the investments at December 31 were: Convenience bonds Facsimile Enterprises bonds U.S. Treasury bills $44.7 million 30.9 million 8.9 million 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 (1.e., 5,500,000 should be entered as 5.5).) View transaction is Journal entry worksheet Purchased 12% bonds of Facsimile Enterprises at their $30 million face value, to be held until they mature in 2024. Semiannual interest is payable May 31 and November 30. Date General Journal Debit Credit Dec 01 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 $48 million of 20-year, 10% 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. Dec. 1 Received semiannual interest of $2.4 million from the Convenience, Inc., bonds. 1 Purchased 12% bonds of Facsimile Enterprises at their $30 million face value, to be held until they mature in 2824. Semiannual interest is payable May 31 and November 30. 31 Purchased U.S. Treasury bills to be held until they mature in twe months for $8.9 million. 31 Recorded any necessary adjusting entry(s) relating to the investments. The falr values of the Investments at December 31 were: Convenience bends Facsimile Enterprises bonds U.S. Treasury bills $44.7 million 38.9 million 8.9 million 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 let Journal entry worksheet