Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2024. Company management has classified the bonds as an available-for-sale investment. The makket interest rate (vield) was 8% fot bonds of similar itsk and maturity. Tanner-UNF pald $200 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 $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 31,2024. at the effective (market) rate 3. Prepare any additional joumat entry necessary for Tanner. UNF to repont its investment in the Decenber 31, 2024, balance sheet. 4. Suppose Moody's bond rating agency downgraded the risk tatirig of the bonds motivating Tanner. UNF to sell the investment on January 2. 2025, for $190 million. Prepare the journat entries necessary to record the sale, including updating the falr-value adjustment, recording any reclassification adjustment, and recording the sale