Charleston Co. purchased 60, 6% APS Company bonds for $60,000 cash plus brokerage fees of $500. Interest is payable semiannually on July 1 and January 1. The entry to record the December 31 interest accrual would include a

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The interest for 6 months on $60,000 at 6% is $1,800. Since the interest is payable semiannually, the entry on December 31 would include a debit to Interest Receivable for $1,800 to recognize the interest earned but not yet received.