Tanner-unf corporation acquired as a long-term investment $160 million of 5.0% bonds, dated july 1, on july 1, 2018. company management has the positive intent and ability to hold the bonds until maturity. the market interest rate (yield) was 8% for bonds of similar risk and maturity. tanner-unf paid $130.0 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, 2018, was $140.0 million. required: 1. & 2. prepare the journal entry to record tanner-unf’s investment in the bonds on july 1, 2018 and interest on december 31, 2018, at the effective (market) rate. 3. at what amount will tanner-unf report its investment in the december 31, 2018, 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, 2019, for $110.0 million. prepare the journal entry to record the sale.