On July 1 of Year 1, West Company purchased for cash, 8, $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. - Note: When answering the following questions, round each amount to the nearest whole dollar. Journal Entries and Financial Statement Presentation for Year 1 e. Record the receipt of interest on January 1 of Year 2