Check my work o Tanner-UNF Corporation acquired as a long-term investment $300 million of 7% bonds, dated July 1, on July 1, 2018. The market Interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $280 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management is holding the bonds in its trading portfolio. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was $285 million. points 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. Prepare any additional Journal entry necessary for Tanner-UNF to 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 $260 million. Prepare the journal entries to record the sale. Book to 19 0 je p Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 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. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, (.e., 5.500,000 should be entered as 5.5)) View transaction list Journal entry worksheet Record Tanner-UNF's investment in the bonds on July 1, 2018 January 2010 Dopo Complete this question by entering your answers in the tabs below. points Reg 1 and 2 Reg 3 Reg 4 eBook Prepare the journal entry to record Tanner-UNF's Investment in the bonds on July 1, 2018 and interest on December 31, 2018, at effective market) rate. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. your answers in millions rounded to 1 decimal place, (l.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet References Record Tanner-UNF's investment in the bonds on July 1, 2018. Note: Enter debits before credits. Event General Journal Debit Credit Help result of changing market conditions, the fair value of the bonds at December 31, 2018 illion. Required: 1. & 2. Prepare the journal entry to record Tanner-UNF's Investment in the bonds on .nd interest on December 31, 2018, at the effective (market) rate. 3. Prepare any additional journal entry necessary for Tanner-UNF to 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 $260 million. Prepare the journal entries to record the sale. points eBook Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Print 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. (If no entry is required for a transaction/event, select "No journal entry required in the first accounted your answers in millions rounded to 1 decimal place, (1.e. 5,500,000 should be entered as 5.5)) References View transaction list Journal entry worksheet Record interest on December 31, 2018. the effective market) rate. 3. Prepare any additional Journal entry necessary for Tanner-UNF to report its Investment in the 4. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating To January 2, 2019, for $260 million. Prepare the journal entries to record the sale. 2018, balance sheet. all the investment on 10 points Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Req 4 eBook Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2018, balance sheet. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place, (l.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet Berece Record any adjustment necessary to report the bond investment in the December 31, 2018 balance sheet. Note: Enter debits before credits Event General Journal Debit Credit Check the effective (market) rate. 3. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the Decem 4. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to January 2, 2019, for $260 million. Prepare the journal entries to record the sale. balance sheet. l e Investment on 10 points Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 eBook 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 $260 million. Prepare the journal entries to record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place, (1.e., 5,500,000 should be entered as 5.5).) Show less View transaction list Beerences Journal entry worksheet Record the Updating the fair-value adjustment. Note: Enter debits before credits. Event General Journal Debit Credit Chapter 12 Saved Help Save & Exh Check Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 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 $260 million. Prepare the journal entries to record the sale. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, (l.e., 5,500,000 should be entered as 5.5).) Show less View transaction list Journal entry worksheet Record the sale of the investment by Tanner-UNF. Note: Enter debits before credits. Event General Journal Credit Debit 260.00