please do Req 4

Tanner-UNF Corporation acquired as a long-term investment $260 million of 5% bonds, dated July 1, on July 1, 2018. The market Interest rate yield) was 7% 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. Company management has classified the bonds as available-for-sale Investments. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was $215 million. 10 points Required: 1. & 2. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2018 and interest on December 31, 2018, at the effective (market) rate. 3. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2018, balance sheet. 4. 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 entries necessary to record the sale, including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. eBook Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Rea 4 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 entries necessary to record the sale, including updating the fair value adjustment, recording any reclassification adjustment, and recording the sale. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, cl.e. 5.500,000 should be entered as 5.5).) Show less View transaction list Journal entry worksheet 1 2 3 Check Investments. As a result of changing market conditions, the fair value of the bonds at December 31, 20 million Required: 1. & 2. Prepare the journal entry to record Tanner-UNF's Investment in the bonds on July 1, 2018 and interest on December 31, 2018, at the effective market) rate. 3. Prepare any additional Journal entry necessary for Tanner-UNF to report its investment in the December 31, 2018, balance sheet. 4. 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 entries necessary to record the sale, including updating the fair value adjustment recording any reclassification adjustment, and recording the sale. points eBook Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 References Prepare the journal entry to record Tanner-UNF's Investment in the bonds on July 1, 2018 and interest on December 31, 2018, at the effective market) rate. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account held. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) View transaction list View journal entry worksheet No Event General Journal Credit Debit 260.0 Investment in bonds Cash 200.0 60.0 Discount on bond investment 2 Cash Discount on bond investment Interest revenue 7.0 Req3 > Check my wa Investments. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was $ 2 o n. Required: 1. & 2. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2018 and interest on December 31, 2018, at the effective market) rate. 3. Prepare any additional Journal entry necessary for Tanner-UNF to report its Investment in the December 31, 2018, balance sheet. 4. 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 entries necessary to record the sale, including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. points Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req3 Reg 4 Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2018, balance sheet. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, i.e., 5,500,000 should be entered as 5.5)) View transaction list View journal entry worksheet Event Debit Credit General Journal Fair value adjustment Unrealized holding gain-OCI 14.5 Reg 1 and 2 Reg 4 > Req 1 and 2 Req3 Req 4 points Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on Janu 2, 2019, for $190 million. Prepare the journal entries necessary to record the sale, including updating the fair value adjustment, recording any reclassification adjustment, and recording the sale. (If no entry is required for a transaction/event, select "No journal required in the first account field. Enter your answers in millions rounded to 1 decimal place, (1.e., 5,500,000 should be entered as 5.5).) Show le eBook View transaction list Print Journal entry worksheet References Record the entry for fair-value adjustment, AFS investment. Note: Enter debits before credits. Event General Journal Debit Credit Saved Help Save & Chapter 12 Chi Reg 1 and 2 Reg 3 Reg 4 o 10 points 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 entries necessary to record the sale, including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place, (l.e., 5,500,000 should be entered as 5.5).) Show less View transaction list lo 1o t Journal entry worksheet References Record the entry for retiassification adjustment. Note: Enter debits before credits General Journal Debit Event Credit Check mi Req 1 and 2 Reg 3 Reg 4 points 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 entries necessary to record the sale, including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) Show less eBook View transaction list Journal entry worksheet References Record the sale of the investment by Tanner-UNF. Note: Enter debits before credits Event General Journal Debit Credit