On July $1$ of Year $1,$ West Company purchased for cash, $18,$ $$10,000$ bonds of North Corporation to yield $10\%.$ The bonds pay $9\%$ interest, payable on a semiannual basis each July $1$ and January $1,$ and mature in three years on July $1.$ The bonds are classified as AFS securities$.$ West Company's annual reporting period ends December $31.$ Assume the effective interest method of amortization of any discount or premium. Record the sale, eliminating the associated Fair Value Adjustment account balance in one entry. For simplicity, ignore any fair value adjustments in Year $2$ related to the $16$ remaining bonds.