Charleston Co

Multiple Choice

Charleston Co. purchased 60, 6% APS Company bonds for $60,000 cash. Interest is payable semiannually on July 1 and January 1. The entry to record the July 1 semiannual interest payment would include a

A) debit to Interest Receivable for $1,800.
B) credit to Interest Revenue for $1,800.
C) credit to Interest Revenue for $3,600.
D) credit to Debt Investments for $1,800.