Tanner-UNF Corporation acquired as an Investment $300 million of 6% bonds, dated July 1 , on July 1,2024 . Company management is holding the bonds in its trading portfolio. The market interest rate (yleld) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $250 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 31,2024 , was $260 million. Requlred: 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 journal entry necessary for Tanner-UNF to report its investment in the December 31,2024 , 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 , 2025, for $240 million. Prepare the journal entries required on the date of sale