Question

Chrome File Edit View History Bookmarks People Window Help uberty University-Portal-Hox Assignments -201720 Spring x M Chapter 12 -3 C ezto mheducation.com/hm.tpx 200 points Tanner-UNF Corporation acquired as a long-term investment $340 million 6.0% bonds, dated July 1, on July 1, 2016. Company management of market has the positive intent and ability to hold the bonds until maturity. The interest rate (yield) was 9% for bonds of similar risk and maturity. Tanner-UNF paid $310.0 million for the bonds. The will receive interest on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2016 was $320.0 million Required: 1 & 2. Prepare the journal entry record Tanner-UNF's investment in the bonds on July 1, 2016 and to interest on December 31, 2016, at the effective rate. (If no entry required for a answers in millions rounded required” in the first account Enter your to 2 decimal places (ie.. 5.500.000 should be entered as 5.50) Journal Entry worksheet Record Tanner-UNF's investment in the bonds on July 1, 2016. General Journal Debit Credit Enter debits before credits