12 Help Save & Exit Submit Check my work Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2018. management has the positive intent and ability to hold the bonds until maturity. The market intere similar risk and maturity. Tanner-UNF paid $200 million for the bonds. The company ill receive interest semi December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was $210 million. Company st rate (yield) was 8% for bonds of Required: 1.&2. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2018 and interest on December 31, 2018, at the effective (market) rate. 3. At what amount will Tanner-UNF report its investment in the December 31, 2018, balance sheet? 4. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2019, for $190 million. Prepare the journal entry to record the sale. Complete this question by entering your answers in the tabs below Req 1 and 2 Req 3 Req 4 At what amount will Tanner-UNF report its investment in the December 31, 2018, balance sheet? (Enter your answer in millions rounded to 1 decimal place, (l.e., 5,500,000 should be entered as 5.5).) Req 4 > K Req 1 and 2 Next > Prey 1 of 10