Amalgamated General Corporation is a consulting firm that also offers financial services through its credit division. Fr

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Amalgamated General Corporation is a consulting firm that also
offers financial services through its credit division. From time to
time the company buys and sells securities. The following selected
transactions relate to Amalgamated’s investment activities during
the last quarter of 2021 and the first month of 2022. The only
securities held by Amalgamated at October 1, 2021 were $36 million
of 10% bonds of Kansas Abstractors, Inc., purchased on May 1, 2021
at face value and held in Amalgamated’s trading securities
portfolio. The company’s fiscal year ends on December 31.
Required:
Prepare the appropriate journal entry for each transaction or
event. Use one summary entry on December 31 to adjust the portfolio
of equity investments to fair value. (If no entry is
required for a transaction/event, select "No journal entry
required" in the first account field. Do not round
intermediate calculations. Enter your answers in millions rounded
to 1 decimal place, (i.e., 5,500,000 should be entered as
5.5).)