On January 1, 2011, Milton Company Purchased at Face Value $\begin{array} { l } \text { Cash}& 60\\ \text { Interest Revenue}&&60 \\\end{array}$

On January 1, 2011, Milton Company purchased at face value, a $1,000, 6% bond that pays interest on January 1 and July 1.Milton Company has a calendar year end. The entry for the receipt of interest on January 1, 2012 is

A) $\begin{array} { l } \text { Cash}& 60\\ \text { Interest Revenue}&&60 \\\end{array}$

B) $\begin{array} { l }\text { Cash }& 60\\ \text {Interest Receivable }&&60 \\\end{array}$

C) $\begin{array} { l } \text { Cash }&30 \\ \text { Interest Revenue}&&30 \\\end{array}$

D) $\begin{array} { l } \text { Cash}& 30\\ \text { Interest Receivable}&&30 \\\end{array}$