On January 1, 2011, Ailey Company Purchased a $30,000, 8

On January 1, 2011, Ailey Company purchased a $30,000, 8% bond, at face value. Interest is paid annually each January 1. The entry related to this investment on December 31, 2011, would include a

A) Debit to Interest Receivable for $2,400
B) Credit to Interest Expense for $2,400
C) Debit to Interest Revenue for $2,400
D) Credit to Cash for $2,400