On January 1, 2020, Marigold Corp. acquires $303,000 of Spider Products Inc. 7% bonds at a price of $287,660. The interest is payable each December 31, and the bonds mature on December 31, 2022. The investment will provide Marigold Corp. with a 9% yield. Marigold Corp. applies IFRS and accounts for this investment using the amortized cost model.

Prepare the journal entry to record interest received and interest income on 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. Round answers to 0 decimal places, e.g. 5,275.)