On July 1, 2020, West Company purchased for cash, three $10,000 bonds of North Corporation at a market rate of 6%. The bonds pay 5% 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.

Corporation at a market rate of 6%. The bonds pay 5% 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. Amortization Schedule Journal Entries in 2020 Journal Entries in 2021 d. Record the receipt of interest on January 1, 2021. e. Record the sale of all of the bonds on January 2, 2021, for $33,200. f. Record the adjustment to the Fair Value Adjustment account on December 31, 2021, assuming no additional TS investments. Note: List multiple debits or credits (when applicable) in alphabetical order. Note: Round each amount to the nearest whole dollar. Account Name Jan. 1. 2021 Cash Date Dr. Cr. 4 > 750 d. 4 0 750 33,200 O e. Interest Receivable Jan. 2. 2021 Cash Gain on Sale of Investment 0 99,600 X 07 OX Investment in TS 0 1,889 X Dec. 31.2021 Unrealized Gain or Loss--Income 1,889 X Fair Value Adjustment--TS Check