On January 1, 2024, Rain Technology purchased at par $80,000, 5 percent, bonds of Lightyear Services Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Rain Technologys year ends on December 31. The following information applies to the fair value of Lightyear Services bonds:

Rain Technology sold the bonds on July 14, 2027, for $83,000.

PA-2 Part 1

Required:

1. Prepare Rain Technologys entry to record interest received on March 31, 2024.

	Bond Price
12/31/2024	$78,000
12/31/2025	87,000
12/31/2026	$81,000