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Tanner-UNF Corporation acquired as a long-term investment $240 million of 6% bonds, dated July 1, on July 1, 2018. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $200 million for the bonds. The company will receive interest semiannually on June 30 and December 31. Company management is holding the bonds in its trading portfolio. As a result of changing market conditions, the fair value of the bonds at December 31, 2018, was $210 million. Required: 1. & 2. Prepare the journal entry to record Tanner-UNFs investment in the bonds on July 1, 2018 and interest on December 31, 2018, at the effective (market) rate. 3. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2018, balance sheet. 4. Suppose Moodys bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2019, for $190 million. Prepare the journal entries to record the sale.

Please help... The items in yellow I can not seem to get correct, What am I doing wrong.

	Account	Debit	Credit
1	Investment bond	240.0
	Discount on bond investment		40.0
	Cash		200.0
2	Cash	7.2
	Discount on Bond Investment	0.8
	Interest Revenue		8.0
	Investment in bond		240.0
	Less: Discount on bond investment	(40.0)
	Discount on bond investment	0.8
	Carrying value of bond		200.8
3	Bonds	9.200
	Exisiting balance in fair value adjustment	-
	Increase ineed in fair value adjustment =	9.20
	Account	Debit	Credit
	Fair Value adjustment	9.20
	Net unrealized holding		9.20
	Account	Debit	Credit
4	Cash	190.0
	Discount on bond investment	39.2
	Loss of sale of investment	10.8
	Investment in bond		240.0

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