On January 1, 2020, Concord Company purchased at face value, a $1060, 10% bond that pays interest on January 1. Concord Company has a calendar year end. The entry for the receipt of interest on...

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Extracted text: On January 1, 2020, Concord Company purchased at face value, a $1060, 10% bond that pays interest on January 1. Concord Company has a calendar year end. The entry for the receipt of interest on January 1, 2021, is Cash 106 Interest Receivable 106 Interest Receivable 106 Cash 106 Cash 106 Interest Revenue 106 Interest Receivable 106 Interest Revenue 106