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 $190 million. Prepare the journal entry to record the sale. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 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 $190 million. Prepare the journal entry to record the sale. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5). McGraw-Hill Connect No 1 Date January 02, 2025 Cash General Journal Show less▲ Debit Credit Discount on bond investment 2 January 02, 2025 Cash Discount on bond investment Loss on investments (NI) Investment in bonds 190.0 39.2 x 10.8x 240.0
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 $190 million. Prepare the journal entry to record the sale. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 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 $190 million. Prepare the journal entry to record the sale. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5). McGraw-Hill Connect No 1 Date January 02, 2025 Cash General Journal Show less▲ Debit Credit Discount on bond investment 2 January 02, 2025 Cash Discount on bond investment Loss on investments (NI) Investment in bonds 190.0 39.2 x 10.8x 240.0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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 $190 million. Prepare the journal entry to record the sale.
× Answer is not complete.
Complete this question by entering your answers in the tabs below.
Req 1 and 2
Req 3
Req 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 $190 million. Prepare the journal entry to record the sale.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round
intermediate calculations. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as
5.5).
McGraw-Hill Connect
General Journal
Show less▲
Debit
Credit
No
Date
1
January 02, 2025 Cash
Discount on bond investment
2
January 02, 2025 Cash
Discount on bond investment
Loss on investments (NI)
Investment in bonds
190.0
39.2 X
10.8
240.0
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