On January 1,2015,dooley Company Purchases $100,000,6% Bonds at a Price

Question 15
Multiple Choice

On January 1,2015,Dooley Company purchases $100,000,6% bonds at a price of 90.4 and a maturity date of January 1,2025.Dooley Company intends to hold the bonds until their maturity date.Interest is paid semiannually,on January 1 and July 1.Dooley Company has a calendar year end.The entry for the receipt of interest on July 1,2015 is: A)debit Cash for $3,000 and credit Interest Revenue for $3,000. B)debit Cash for $6,000 and credit Interest Revenue for $6,000. C)debit Investment in Bonds for $3,000 and credit Interest Revenue for $3,000. D)debit Investment in Bonds for $6,000 and credit Interest Revenue for $6,000.