Tanner-UNF Corporation acquired as a long-term investment $290 million of 85 bond5, dated July 1 , on July 1,2021 . Company management has classified the bonds as an availoble-for-sale investment. The mafket interest rata brield Was 10% for bonds of similar risk and maturity. Tanner-UNF paid $260 million for the bonds. The company w. receive interest semiannually on June 30 and December 31 . As a result of changing market conditions, the far value of the bonds at December 31,2021 , was $270 million. Required: 1. \& 2. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1,2021 and interest on December 31, 2021, at the effective (market) rate. 3. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31. 2021. 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 2,2022, for $250 million. Prepare the journal entries necessary to record the sale. including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. Complete this question by entering your answers in the tabs below. Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2021 and interest on December 31 Prepare the journat entry to record Tanner-UNF's investment in the bonds an July 1,2021 and hitereft on December 31. your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) Journal entry worksheet 2 Record Tanner-UNF's investment in the bonds on July 1,2021