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Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2024 and interest on December 31, 2024, at the effective (market)
Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2024 and interest on December 31, 2024, at the effective (market) rate. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5). Show less A View transaction list Journal entry worksheet < 1 2 Record interest on December 31, 2024. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal Req 1 and 2 Req 3 > Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2024, balance sheet. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5). View transaction list Journal entry worksheet < Prepare any additional journal entry needed for Tanner-UNF to report its Investment in the December 31, 2024, balance sheet. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2025, 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. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (l.e., 5,500,000 should be entered as 5.5). View transaction list Journal entry worksheet < 1 2 3 Record the entry for fair-value adjustment, AFS investment. Note: Enter debits before credits. Date January 02, 2025 General Journal Debit Credit Record entry Clear entry View general journal Show less & oped Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2024 and interest on December 31, 2024, at the effective (market) rate. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5). View transaction list Journal entry worksheet < 2 Record interest on December 31, 2024. Note Enter debits before credits Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general Journal Show less A
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