Tanner-UNF Corporation acquired as an investment $260 millon of 7% bonds, dated July 1, on July 1, 2021 . Company management is holding the bonds in its trading portfolio. The market interest rate (yieid) was 9% for bonds of similar risk and maturity. Tanner-UNF paid $220 million 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 31,2021 , was 5230 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 joumal 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 $200 million. Prepare the journai entries required on the date of sale. View transaction list View journal entry worksheet \begin{tabular}{|c|c|l|r|r|} \hline No & Date & \multicolumn{1}{|c|}{ General Journal } & Debit & Credit \\ \hline 1 & July 01, 2021 & Investment in bonds & 260.0 \\ \hline & & Discount on bond investment & 40.0 \\ \hline & & Cash & 220.0 \\ \hline & & & & \\ \hline 2 & December 31, 2021 & Cash & 91.0 \\ \hline & & Discount on bond investment & 0.8 \\ \hline \end{tabular} Journal entry worksheet Record any adjustment necessary to report the bond investment in the December 31, 2021 balance sheet. Note: Enter debits before aredits. Journal entry worksheet 2 Prepare any journal entry needed to adjust the investment to fair value. Note: Enter debits berore credits. Journal entry worksheet Record the sale of the investment by Tanner-UNF. Note: Fnter debits before credits