hw 1-4

Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1. 2024. 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 $200 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 31,2024 , was $210 million. Journal entry worksheet Prepare any journal entry needed to adjust the investment to fair value. Note: Enter debits before credits. Journal entry worksheet