It said incomplete

Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2018. Company management has the positive intent and ability to hold the bonds until maturity, but when the bonds were acquired Tanner-UNF decided to elect the fair value option for accounting for its investment. 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, 2018, was $210 million. Required: 1. How would this investment be classified on Tanner-UNF's balance sheet? 2. to 4. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2018, interest on December 31, 2018, at the effective rate and fair value changes as of December 31, 2018. 5. At what amount will Tanner-UNF report its investment in the December 31, 2018, balance sheet? 6. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2019, for $190 million. Prepare the journal entry to record the sale. Complete this question by entering your answers in the tabs below. Req 1 | Reg 2 to 4 Reg 2 to 4 Req 5 Req5 Req 6 Rego How would this investment be classified on Tanner-UNF's balance sheet? Classification Trading securities Req 1 Req 2 to 4 > View transaction list Journal entry worksheet Record Tanner-UNF's investment in the bonds on July 1, 2018. Note: Enter debits before credits. Event Credit Debit 240.0 General Journal Investment in bonds Discount on bond investment Cash 40.0 200.0 Record entry Clear entry View general journal View transaction list Journal entry worksheet Journal entry worksheet Record the entry to adjust to fair value on the date of sale. Note: Enter debits before credits. Event Credit General Journal Cash Discount on bond investment Loss on sale of investments Investment in bonds Debit 190 39 11 Record entry Clear entry View general journal