Tanner-UNF Corporation acquired as a Iong-term investment $240 million of 88 bonds, dated July 1 , on Juy 1, 2024. Company management has classified the bonds as an availabie-for-sale investment. The market interest rate (yileld) was foz for bonds of similar risk and maturity. Tanner-UNF paid $200 milion 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, 2024, was $210 million. Required: 1. \& 2. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1,2024 and interest on December 3t, 2024. at the effective (market) rate. 3. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 3t, 2024, balance sheet. 4. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the invortment on January 2,2025 , for $180 million. Prepare the joumat entries necessary to record, the sale, including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale