Fuzzy Monkey Technologies, inc, purchased as a short-term investment $70 mition of 6% bonds, dated January 1, on January 1,2021 . Management intends to include the investment in a shortterm, active trading portfolla. For bonds of simiar risk and matusity the Due to changing maatket conditions, the fair value of the bonds at December 31,2021 , was $60 malion. Required: 1. to 3. Prepare the relevant joutnal entries on the respecthve dotes (record the interest at the effective rate). 4.a. At what amount will Fuzzy Mankey report its investment in the December 31,2021 balance sheet? 4-b. Prepare any entry necessary to achieve this reporting objective. 5. How would Fuzzy Monkey's 2021 statempnt of cash fows be affected by this investment? of more than one approach is possale. indicate the ane that is most likley)
At what amount will Fuzzy Monkey report its investment in the December 31,2021 balance sheet? 100 fot round intermedlate calculations. Enter your answer in millons (i.e, 10,000,000 should be entered as 10)