On March 31. Concord Corp. invests in a $1.000, 12% bond to be held for short term trading purposes, and accounts for this investment using the FV.Ni method. The band's fair value when acquired was $975, but an additional $20 was paid (and debited to Interest Receivable) representing the interest accrued since the annual interest payment date of February 1. Concord applies IFRS, and prepares financial statements cach December 31. The effective yield on the bond is 12.50%. The fair value of the bond on December 31 is $969 and on February 1, when Concord sells the bond, it is $966. Concord Corp.does not use reversing entries. 120 Prepare journal entries to record any December 31 adjustments needed. (Round answers to decimal places, eg. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit December Interest Receivable 31 FV-Ni Investments Interest Income (To record interest) December Investment income or Loss 31 FV.NI Investments (To record income or loss)