Fuzzy Monkey Technologies, Inc, purchased as a long-term investment $70 million of 6% bonds, dated January 1, on January 1, 2021. Management intends to have the investment avallable for sale when circumstances warrant. For bonds of similar risk and maturity the market yield was 8%. The price paid for the bonds was $55 million. Interest is received semiannually on June 30 and December 31 . Due to changing market conditions, the fair value of the bonds at December 31,2021 , was $60 million. Required: 1. to 3. Prepare the relevant joumal entries on the respective dates (record the interest at the effective rate). 4-a. At what amount will Fuzzy Monkey report its investment in the December 31, 2021, balance sheet? 4-b. Prepare the entry necessary to achieve this reporting objective. 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.) Complete this question by entering your answers in the tabs below. Prepare the relevant foumal entries on the respective dates (recorp 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, (i.e., 5,500,000 should be entered as 5.50).) Journal entry worksheet Record Fuzzy Monkey's investment on bonds on January 1, 2021