Tanner$-$UNF Corporation acquired as a long$-$term investment $$170$ million of $6\mathrm{.}0\%$ bonds, dated July $1,$ on July $1,2024.$ Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate $($yield$)$ was $8\%$ for bonds of similar risk and maturity. Tanner$-$UNF paid $$140\mathrm{.}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 $31,2024,$ was $$150\mathrm{.}0$ million.

Required:

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 $$120\mathrm{.}0$ million. Prepare the journal entry to record the sale.