Check my work 1 ints 2 Tanner-UNF Corporation acquired as a long-term investment $225 million of 8% bonds, dated July 1, on July 1, 2021 Company management has classified the bonds as an available for sale investment. The market interest rate yield) was 10% for bonds of similar risk and maturity. Tanner-UNF paid $180 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, 2021, was $190 million Required: 1. & 2. Prepare the journal entry to record Tanner-UNF's Investment in the bonds on July 1, 2021 and interest on December 31, 2021, at the effective (market) rate 3. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2021, 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, 2022, for $170 million Prepare the journal entries necessary to record the sale, including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. 01:57:36 Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 RAQ 4 Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2021 and interest an December 31, 2021, at the