Question: Prepare the appropriate journal entry for each transaction or event during 2022. (If no entry is required for a transaction/event, select No journal entry required

Prepare the appropriate journal entry for each transaction or event during 2022. (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, (ie, 5,500,000 should be entered as 5.5).) No Date General Journal Debit Credit American Surety and Fidelity buys and sells securities expecting to earn profits on short-term differences in price. For the first 11 months of 2021, gains from selling trading securities totaled $6 million, losses from selling trading securities were $12 million, and the company had earned $5 million in interest revenue. The following selected transactions relate to American's investments in trading securities and equity securities during December 2021, and the first week of 2022. The company's fiscal year ends on December 31. No trading securities or equity investments were held by American on December 1, 2021. Assume that the bonds are purchased at face value. 2022 Jan. 2 Sold the remaining Ferry Intercommunications common stock shares for $10.1 million. 5 Purchased warehouse Designs Corporation bonds for $45 million

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