Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31,2024 , balance sheet. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not roun intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5). Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2025, for $180 million. Prepare the journal entries required on the date of sale. Note: 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). Show less \begin{tabular}{|l|c|l|l|l|} \hline No & \multicolumn{1}{|c|}{ Date } & \multicolumn{1}{|c|}{ General Journal } & \multicolumn{1}{c|}{ Debit } & \multicolumn{1}{c|}{ Credit } \\ \hline 1 & January 02, 2025 & Loss on investment (unrealized, NI) & & \\ \hline & & Fair value adjustment & & \\ \hline & & & & \\ \hline 2 & January 02, 2025 & Cash & & \\ \hline & & Fair value adjustment & & \\ \hline & & Discount on bond investment & & \\ \hline & & Investment in bonds & & \\ \hline \end{tabular} Tanner-UNF Corporation acquired as an investment $220 million of 6% bonds, dated July 1 , on July 1,2024 . Company management is holding the bonds in its trading portfolio. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $190 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2024, was $200 million. Required: 1. \& 2. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2024 and interest on December 31, 2024, at the effective (market) rate. 3. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2024, 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 2,2025 , for $180 million. Prepare the journal entries required on the date of sale