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Fuzzy Monkey Technologies, Inc, purchased as a long-term investment $220 million of 8% bonds, dated January 1, on January 1,2021 . Management has the positive

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Fuzzy Monkey Technologies, Inc, purchased as a long-term investment $220 million of 8% bonds, dated January 1, on January 1,2021 . Management has the positive intent and ability to hold the bonds until maturity. For bonds of similar risk and maturity the market yield was 10%. The price paid for the bonds was $201 million. Interest is recelved semiannually on June 30 and December 31 . Due to changing market conditions, the fair value of the bonds at December 31,2021 , was $210 million. Required: 1. to 3. Prepare the relevant joumal entries on the respective dates (record the interest at the effective rate). 4. At what amount will Fuzzy Monkey report its investment in the December 31,2021 balance sheet? 5. How would Fuzzy Monkey's 2021 statement of cash flows be affected by this investment? (ff more than one approach is possible. Indicate the one that is most likely.) Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). (If no entry Is required for a transaction/event, select "No joumal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 2 decimal places, (1.e., 5,500,000 should be entered as 5.50).) Required: 1. to 3. Prepare the Yelevant joumal entries on the respective dates (record the interest at the effective rate). 4. At what amount will Fuzzy Monkey report its investment in the December 31, 2021 balance sheet? 5. How would Fuzzy Monkey's 2021 statement of cash flows be affected by this investment? (If more than one approach is possible indicate the one that is most likely.) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. At what amount will Fuzxy Monkey report its investment in the December 31,2021 balance sheet? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places, (1.e., 5,500,000 should be entered as Required: 1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). 4. At what amount will Fuzzy Monkey report its investment in the December 31,2021 balance sheet? 5. How would Fuzzy Monkey's 2021 statement of cash flows be affected by this investment? (If more than one approach is possib indicate the one that is most likely.) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. How would Fuzzy Monkey's 2021 statement of cash flows be affected by this investment? (If more than one approach is possible, indicate the one that is most likely.) (Do not round intermediate calculations. Enter all amounts as positive values. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).)

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