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Mills Corporation acquirod as an investment $240 milion of 5% bonds, dated July 1, on July 1, 2024. Company management is holding for the bonds. Tho company whe receive interest semiannually on June 30 and December 31 . As a result of changing market Required: 1. 42 . Prepare the journal entry to record Mill' investment in the bonds on July 1, 2024 and interest on December 31,2024 , at the 4. Suppose Moody's bond rating agoncy upgraded the risk rating of the bonds, and Mills decided to sell the investment on January 2. 2025, for $290 millon, Prepare the journal entries required on the date of sale. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Prepare the journal entry to record Mills' Investment in the bonds on July 1, 2024 and interest on December 31 , 2 Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. D calculations. Enter your answers in millions rounded to 1 decimal place, (1.e., 5,500,000 should be entered as 5.5 Journal entry worksheet Record Mills' Investment in the bonds on July 1, 2024. Note: Enter debits before credits. Prepare the journal entry by Mills to record any fair value adjustment necessary for the year ended Dec Note: If no entry is required for a transaction/event, select "No journal entry required" in the first acco calculations. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be ent, Journal entry worksheet Prepare any journal entry needed to adjust the investment to fair value. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Suppose Moody's bond rating agency upgraded the risk rating of the bonds, and Mills decided to sell the investmen million. Prepare the journal entries required on the date of sale. Note:- If no entry is required for a transaction/event, select "No journal entry required" in the first account field. D calculations. Enter your answers in millions rounded to 1 decimal place, (1.e., 5,500,000 should be entered as 5.5 Journal entry worksheet Prepare any journal entry needed to adjust the investment to fair value. Note: Enter debits before credits