Exercise 12-1 (Algo) Securities held-to-maturity: bond investment; effective interest, discount [LO12-1) Tanner-UNF Corporation acquired as a long term investment $200 million of 6.0% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until maturity. The market Interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner UNF paid $170.0 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 $180.0 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. At what amount will Tanner-UNF 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 $150.0 million. Prepare the journal entry to record the sale. Complete this question by entering your answers in the tabs below. Red 1 and 2 Reg 3 Reg 4 July 2021 and interest on December 31, 2021, at the