Charleston Co.purchased 60, 6% APS Company bonds on January 1, 2022 for $60,000 cash.Interest is payable annually on January 1.The entry to record the December 31 interest accrual would include a
A) debit to Interest Receivable for $3,600.
B) debit to Interest Revenue for $3,600.
C) credit to Cash Revenue for $3,600.
D) debit to Debt Investments for $3,600.
Correct Answer:
Verified
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