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1 . & 2 . Prepare the journal entry to record Tanner - UNF s investment in the bonds on July 1 , 2 0

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 .

At what amount will Tanner

-

UNF 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 $

240.0

million. Prepare the journal entry to record the sale.

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