$23.)$

Wildhorse Corporation had the following transactions in $2020$ and $2021$ pertaining to debt investments.

Purchased $6511\%,$$$1,000$ Wolfe Co$.$ bonds for $$66,300$ cash on January $1,2020.$ Interest is payable annually on January $1.$

Accrued interest on Wolfe Co$.$ bonds on December $31,2020.$

Received interest on Wolfe Co$.$ bonds on January $1,2021.$

Sold $35$ Wolfe Co$.$ bonds for $$38,675$ on January $1,2021.$ A$)$ prepare the adjusting entry for the accrual of interest at Dec $31,2021.$ B$)$ indicate how interest receivable and interst revenue is reported in $2021$ financial statement including the amounts.