Tanner-UNF Corporation acquired as a long-term investment $340 million of 6.0% bonds, dated July 1, on July 1 , 2021. Company management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yleld) was 9% for bonds of similar risk and maturity. Tanner-UNF paid $300.0 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 31,2021 , was $320.0 million Required: 1. \& 2. Prepare the journat entry to record Tanner-UNF's investment in the bonds on July 1, 2021 and interest on December 31,2021 , a the effective (market) rate 3. At what amount will Tanner-UNF 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 $3000 million. Prepare the journal entry to record 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, 2021, at the effective (market) rate. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field, Enter your arswers in millions rounded to 1 decimal place, (i.e, 5,500,000 should be entered as 5.5).) Journal entry worksheet Record Tanner-UNF's investment in the bonds on July 1, 2021. Note: Enter debits before credits. Journal entry worksheet Record interest on December 31,2021. Note: Enter debits before credits. 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. At what amount will Tanner-UNF 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 $3000 milison. Prepare the journal entry to record the sale Complete this question by entering your answers in the tabs below. At what amount will Tanner-UNF report its investment in the December 31, 2021, balance sheet? (Enter your answer in miltions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) Journal entry worksheet