Tanner INF Corporation acquired as a long-term investment $150 million of 4.0% bonds, dated July 1, on July 1.2018. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 6% for bonds of similar risk and maturity. Tanner-UNF paid $120.0 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 $130.0 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. At what amount will Tanner-UNF 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 $100.0 million. Prepare the journal entry to record the sale. 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, 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 r your answers in millions rounded to 1 decimal place G.e., 5.500,000 should be entered as 5.5)) View tra Journal entry worksheet Record Tanner-UNF's investment in the bonds on July 1, 2018