On January 1, 2020, Monmouth Industries issued $700,000 of 12% bonds. Interest of $42,000 is payable semiannually on June 30 and December 31. The bonds mature in six years, on December 31, 2025. Apple Intergroup, Inc. purchased the entire bond issue on a date when the market interest rate for bonds of similar risk and maturity was 16%. [PV factor for ordinary annuity at n=12, i=8% is 7.536; PV value factor of $1 at n=12, i=8% is 0.397]. In Monmouth's June 30, 2020, journal entry to record interest, Monmouth would record a credit to interest revenue of (values are rounded to nearest dollar): A) $54,553.00 B) $47,553.00 C) $74,653.00 D) $57,453.00 A. A B.B C.C D.D