On July 1 of Year 1, West Company purchased for cash, 12, $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 hree years on July 1. The bonds are classified as held-to-maturity securities. West Company's annual reporting period ends December 31 . Assume the effective interest method of amortization of any discount or premium. Note: When answering the following questions, round answers to the nearest whole dollar. e. Record the receipt of interest on January 1 of Year 2