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

Purchased $6011\%,$$$1,000$ Wolfe Co$.$ bonds for $$61,800$ 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 $1,2021.$Prepare the adjusting entry for the accrual of interest at December $31,2021.($Credit account titles are automatically indented when

the amount is entered. Do not indent manually. If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts.Your answer is partially correct.

Indicate how interest receivable and interest revenue is reported in the $2021$ financial statements, including the amounts.

Crane Corporation

Balance Sheet $($Partial$)$

December $31,2021$Crane Corporation

Income Statement $($Partial$)$

For the Year Ended December $31,2021$

Other Revenues and Gains

List debit entry before credit entry.$)$

Dec. $31$

$[1]$