Journal entry worksheet 2 Record Tanner-UnF's invesisment in the bonds on July 1, 2024. TannerdUNF Corporation acquired as a long term investment $240 milion of 6% bonds, dated July 1, on July 1,2024. Compary management has the positve intent and abtity to hold the bonds until maturity. The market interest rate (yeldi) was 8% for bonds of similar flsk and maturity, Fanner-UNF pald $200 milfon for the bonds. The company will recelve intereat semlannually on June 30 and December 3i. As a result of changing market conditions, the fair value of the bonds at December 3t, 2024, was $210 million. Requitred: 1. \& 2 Prepare the joumal entry to record Tarner-UNF's investment in the bonds on July 1,2024 and interest on Docember 31, 2024, at the effective (market) rate 3. At what amount will Tanner-UNF report its investment in the December 31,2024 , bal ance sheet? 4. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motlvating Tanner.UNF to sell the investrent on January 2, 2025, for $190 million. Prepare the journal entry to record the salo Complete this question by entering your answers in the tabs below. effectio (market rate Journal entry worksheet similar nisk and maturity. Tanner-UNF pald $200 million for the bends. The conty. The market interest rate (yeld) was 8% for bonds of December 31 . As a rosult of changing market conditions, the bonds. The company wil recetve interost semlannually on June 30 and Required 1. \& 2. Propare the journal entry to record Tanner-UNF's invertment in the bonds on July 1, 2024 and Interest on December 31, 2024, at the effective (markot) rate 3. At what amount will Tanner-UNF report its investment in the December 31, 2024, balance sheet? 4. Suppose Moody's bond rating agency downgraded the nisk rating of the bonds motlvating Tanner-UNF to sell the irmectment on January 2.2025 , for $190 million Prepare the journal entry to record the sale. Complete this question by entering your answers in the tabs below. Ac what amount will Tanner- UNF report its investment in the December 31.2024, balance sheer? intermedivticicalculations. intenned ate calculabons, Enser your answers in milfons rounded to 1 decimal place, (6,e, 5,500,000 should be entered as 5.5 ). Journal entry worksheet (2) Prepare any joumal encry needed to adjust the investment to fair value