Landmark Corp. buys $300,000 of Schroeter Companys 8%, 5-year bonds payable, at par value on September 1. Interest payments are made semiannually. Landmark plans to hold the bonds for the 5-year life. When the bonds mature, the journal entry to record the proceeds will be:

Multiple Choice

• Debit Long-Term InvestmentsHTM $300,000; credit Cash $300,000.

• Debit Cash $300,000; credit Interest Revenue $300,000.

• Debit Cash $300,000; credit Debt InvestmentsHTM $300,000.

• Debit Cash $300,000; credit Interest Receivable $300,000.

• Debit Cash $300,000; credit Bonds Payable $300,000.