answer this question using the net method. It's what my professor requires.

E 12-3 Securities held-to-maturity LO12-1 FF&T Corporation is a confectionery wholesaler that frequently buys and sells securities to meet various invest- 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. 1 Dec. 1 Received semiannual interest of $2.4 million from the Convenience, Inc., bonds. 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. Purchased U.S. Treasury bills to be held until they mature in two months for $8.9 million. Recorded any necessary adjusting entry(s) relating to the investments. 31 31 The fair values of the investments at December 31 were: Convenience bonds $44.7 million Facsimile Enterprises bonds 30.9 million U.S. Treasury bills 8.9 million Required: Prepare the appropriate journal entry for each transaction or event