Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31 , 2021 , 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 milions rounded to 1 decimal place, (i,e, 5,500,000 should be entered as 5.5).) Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2021 and interest on December 31,2021 , at the effective (market) rate. (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).) Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2,2022 , for $250 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 joumal entry 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).) Tanner-UNF Corporation acquired as a long-term investment $290 million of 8% bonds, dated July 1 , on July 1, 2021. Company management has classified the bonds as an available-for-sale investment. The market interest rate (yield) was 10% for bonds of similar risk and maturity. Tanner-UNF paid $260 million for the bonds. The company will recelve interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31,2021 , was $270 million. Required: 1. \& 2. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1,2021 and interest on December 31,2021 , at the effective (market) rate. 3. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31,2021 , 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 2,2022 , for $250 million. Prepare the journal entries necessary to record the sale, including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. Complete this question by entering your answers in the tabs below. Prepare the joumal entry to record Tanner-UNF's investment in the bonds on July 1, 2021 and interest on December 31,2021 , at the effective (market) rate. (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 ). )