Tanner-UNF Corporation acquired as a long-term investment $300 million of 4% bonds, dated July 1, on July 1, 2013. 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 $270 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, 2013 was $280 million.

Required:

1.	Prepare the journal entry to record Tanner-UNF's investment in the bonds on July 1, 2013. (If no entry is required for an event, select "No journal entry required" in the first account field. Enter your answers in millions, (i.e., 10,000,000 should be entered as 10).)

Event	General Journal	Debit	Credit
1	Investment in bonds
	Cash