A company purchased $30,000 of 5% bonds for investment purposes on May 1. The bonds pay interest

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A company purchased $30,000 of 5% bonds for investment purposes on May 1. The bonds pay interest on February 1 and August 1. The amount of interest revenue accrued at December 31 (the company’s year-end) is

a. $1,500.

c. $1,000.

e. $300.

b. $1,375.

d. $625.

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