FF&T Corporation is a confectionery wholesaler that frequently buys and sells securities to meet various investment...

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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 2024. At November 1, FF&T held $60 million of 30-year, 8% bonds of Convenience, Incorporated, purchased May 1, 2024, 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. November 1 Received semiannual interest of $2.4 million from the Convenience, Incorporated, bonds. December 1 Purchased 10% bonds of Facsimile Enterprises at their $48 million face value, to be held until they mature in 2027. Semiannual interest is payable May 31 and November 30. December 31 Purchased U.S. Treasury bills to be held until they mature in two months for $10.4 million. December 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 Required: $ 56.7 million 48.4 million 10.4 million Prepare the appropriate journal entry for each transaction or event. Note: 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 1 2 3 4 5 6 Received semiannual interest of $2.4 million from the Convenience, Incorporated, bonds. Note: Enter debits before credits. Date November 01 General Journal Debit Credit Record entry Clear entry View general journal > 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 2024. At November 1, FF&T held $60 million of 30-year, 8% bonds of Convenience, Incorporated, purchased May 1, 2024, 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. November 1 Received semiannual interest of $2.4 million from the Convenience, Incorporated, bonds. December 1 Purchased 10% bonds of Facsimile Enterprises at their $48 million face value, to be held until they mature in 2027. Semiannual interest is payable May 31 and November 30. December 31 Purchased U.S. Treasury bills to be held until they mature in two months for $10.4 million. December 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 Required: $ 56.7 million 48.4 million 10.4 million Prepare the appropriate journal entry for each transaction or event. Note: 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 1 2 3 4 5 6 Received semiannual interest of $2.4 million from the Convenience, Incorporated, bonds. Note: Enter debits before credits. Date November 01 General Journal Debit Credit Record entry Clear entry View general journal >