On January 1, 2022, JBT Company purchased at face value, a $1,000 6%, bond that pays interest on January 1.JBT Company has a calendar year end.The entry for the receipt of interest on January 1, 2023 is 
Definitions:
Amortization
The gradual reduction of a debt over a specific period of time through regular payments, or the allocation of the cost of an intangible asset over its useful life.
Coupon Rate
The annual interest rate paid by a bond issuer to its bondholders, typically expressed as a percentage of the bond's face value.
Market Rate
The prevailing interest rate available in the marketplace for securities, loans, or deposits, often determined by supply and demand forces.
Face Value
The nominal value of a security stated by the issuer, usually representing the amount to be repaid at maturity for bonds.
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