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On January 1, 2018, Ailey Company purchased a $30,000, 8% bond, at face value. Interest...

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Accounting

On January 1, 2018, 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, 2018, would include a

a. Debit to Interest Revenue for $2,400

b. Credit to Interest Expense for $2,400

c. Credit to Cash for $2,400

d. Debit to Interest Receivable for $2,400

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