On July 1, 2020, West Company paid $105,417 to purchase ten $10,000 bonds of North Corporation at a market rate of 6%. The bonds pay 8% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as trading securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discounts or premiums. Ignore income taxes. The fair value of the bonds on December 31, 2020 is $105,300. The amount of interest that West Company received in 2020 is... Explain how the answer is 0? And 1) Record the entry for the purchase of the bonds for July 1, 2020. 2) Record the adjusting entries on December 31, 2020, to accrue interest revenue and record the unrealized gain or loss.