On January 1, 2014, Brenner Company purchased at face value, a $1,000, 6% bond that pays interest on January 1. Brenner Company has a calendar year end. The entry for the receipt of interest on January 1, 2015, is $\begin{array}{lr}
\text {a. Cash }&60\
\quad\text { Interest Receivable}&&60\
\text { b. Cash }&60\
\quad\text { Interest Revenue}&&60\
\text {c. Interest Receivable }&30\
\quad\text { Interest Revenue}&&30\
\text {d. Interest Receivable }&60\
\quad\text { Interest Revenue}&&60\
\end{array}$

Question

On January 1, 2014, Brenner Company purchased at face value, a $1,000, 6% bond that pays interest on January 1. Brenner Company has a calendar year end. The entry for the receipt of interest on January 1, 2015, is $\begin{array}{lr}
\text {a. Cash  }&60\
\quad\text { Interest Receivable}&&60\
\text { b. Cash }&60\
\quad\text { Interest Revenue}&&60\
\text {c. Interest Receivable }&30\
\quad\text { Interest Revenue}&&30\
\text {d. Interest Receivable }&60\
\quad\text { Interest Revenue}&&60\
\end{array}$

Quizplus · Accepted Answer

The Answer of On January 1, 2014, Brenner Company purchased at face value, a $1,000, 6% bond that pays interest on January 1. Brenner Company has a calendar year end. The entry for the receipt of interest on January 1, 2015, is $\begin{array}{lr}
\text {a. Cash  }&60\
\quad\text { Interest Receivable}&&60\
\text { b. Cash }&60\
\quad\text { Interest Revenue}&&60\
\text {c. Interest Receivable }&30\
\quad\text { Interest Revenue}&&30\
\text {d. Interest Receivable }&60\
\quad\text { Interest Revenue}&&60\
\end{array}$

On January 1, 2014, Brenner Company Purchased at Face Value