On January 1,2014,Winston Company Purchased 6% Bonds with a Face

Multiple Choice

On January 1,2014,Winston Company purchased 6% bonds with a face value of $50,000 for par.Winston Company intends to hold the bonds until maturity.Interest is payable semiannually on July 1 and January 1.The company's fiscal year ends on December 31.The journal entry on December 31,2014 is:

A) debit Interest Receivable for $1,500 and credit Held-to-Maturity Investment in Bonds $1,500.
B) debit Cash for $1,500 and credit Interest Revenue for $1,500.
C) debit Interest Receivable for $1,500 and credit Interest Revenue for $1,500.
D) debit Interest Receivable for $3,000 and credit Held-to-Maturity Investment in Bonds $3,000.