On November 1, 2015, Archangel Services issued $200,000 of 10-year bonds with a stated rate of 3%. The bonds were sold at par, and make semiannual payments on April 30 and October 31. At December 31, 2015, Archangel made an adjusting entry to accrue interest at year-end. How much interest expense will be recorded at December 31, 2015?

Select one:

A. $1,500

B. $1,000

C. $6,000

D. $500