Ee 73. 1Record Fuzzy Monkey's investment on bonds on January 1, 2024.DateJanuary 01, 2024Note: Enter debits before credits.<Record entry12Journal entry worksheet2DateJune 30, 20243Note: Enter debits before credits.Record entryRecord the interest revenue on June 30, 2024.General JournalDateDecember 31,2024Clear entryGeneral JournalNote: Enter debits before credits.Journal entry worksheet< 1 2 3Clear entryRecord the interest revenue on December 31, 2024.General JournalDebitDebitCreditDebitView general journalView general journalCreditCredit>> Fuzzy Monkey Technologies, Incorporated purchased as a short-term investment $100 million of 8% bonds, dated January 1,on January 1, 2024. Management intends to include the investment in a short-term, active trading portfolio. For bonds ofsimilar risk and maturity the market yield was 10%. The price paid for the bonds was $82 million. Interest is receivedsemiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31,2024, was $90 million.Required:1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate).4-a. At what amount will Fuzzy Monkey report its investment in the December 31, 2024 balance sheet?4-b. Prepare any entry necessary to achieve this reporting objective.5. How would Fuzzy Monkey's 2024 statement of cash flows be affected by this investment? (If more than one approach ispossible, indicate the one that is most likely.)Complete this question by entering your answers in the tabs below.Req 5Prepare the relevant journal entries on the respective dates (record the interest at the effective rate).Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not roundintermediate calculations. Enter your answers in millions rounded to 2 decimal places, (i.e., 5,500,000 should be entered as 5.50).Req 1 to 3Req 4AReq 48

A bond is a fixed income security that represents a loan made by an investor to a borrower. Which…

Required: 1. to 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). 4-a. At what amount will Fuzzy Monkey report its investment in the December 31, 2024 balance sheet? 4-b. Prepare any entry necessary to achieve this reporting objective. 5. How would Fuzzy Monkey's 2024 statement of cash flows be affected by this investment? (If more than one approach is possible, indicate the one that is most likely.)