Exercise 12-5 (Algo) Trading securities [LO12-1, 12-3] Tanner-UNF Corporation acquired as an investment $230 million of 8% bonds, dated July 1 , on July 1, 2021. Company management is holding the bonds in its trading portfolio. The market interest rate (yield) was 10% for bonds of similar risk and maturity. TannerUNF paid $210 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 $220 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 $200 million. Prepare the journal entries required on the date of sale