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I need help with this problem Tanner UNF Corporation acquired as a long-term investment 240 million of 6% bonds dated July 1st on July 1st 2013.
I need help with this problem Tanner UNF Corporation acquired as a long-term investment 240 million of 6% bonds dated July 1st on July 1st 2013. Company management has the positive intent and ability to hold the bond until maturity. The market interest rate yield was 8% for Bond of similar risk and maturity. Tanner UNF paid 200 million for the bond the company will receive interest semiannually on June 30th and December 31st as a result of changing market conditions the fair value of the bonds at December 31st 2013 was 210 million one prepare the journal entry to record Tanner UNF investment in the bonds on July 1st 2013 to prepare the journal entry by Tanner UNF to record interest on December 31st 2013 at the effective market rate at what amount will Tanner UNF report its investment in the December 31st 2013 balance sheet why 4 suppose Moody's Bond rating agency downgraded the risk rating of the bonds motivated Tanner you and left to sell the investment in January 2nd 2014 for 190 million. The journal entry to record the sale
