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Fuzzy Monkey Technologles, Incorporated purchased as a long$-$term investment $$230$ million of $10\%$ bonds, dated January $1,$ on January $1,2024.$ Management intends to have the investment avallable for sale when circumstances warrant. For bonds of similar risk and maturity the market yield was $12\%.$ The price pald for the bonds was $$210$ million. Interest is recelved semlannually on June $30$ and December $31.$ Due to changing market conditions, the fair value of the bonds at December $31,2024,$ was $$220$ million.

Required:

to $3.$ Prepare the relevant journal entrles on the respective dates $($record the interest at the effectlve rate$).$

$4-$a$.$ At what amount will Fuzzy Monkey report its investment in the December $31,2024,$ balance sheet?

$4-$b$.$ Prepare the entry necessary to achleve this reporting objective.

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.$)$

Complete this question by entering your answers in the tabs below.

Req $4B$

Req $5$

At what amount will Fuzzy Monkey report its investment in the December $31,2024,$ balance sheet?

Note: Do not round intermediate calculations. Enter your answer in millions $($i$.$e $10,000,000$ should be entered as $10).$

million

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