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On January 1, 2020, Larsson Inc. purchased 150 Jones Inc.8%, 10-year $5,000 bonds. The bonds...

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Accounting

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On January 1, 2020, Larsson Inc. purchased 150 Jones Inc.8%, 10-year $5,000 bonds. The bonds pay interest annually on December 31. If Larsson receives the interest payment for 2020 on January 1, 2021, how should it journalize this event? $60.000 debit to Interest Receivable and $60,000 credit to Interest Revenue O $60.000 debit to Cash and $60,000 credit to Interest Receivable O $60.000 debit to Interest Revenue and $60,000 credit to Interest Receivable O $60,000 debit to Cash and $60,000 credit to Interest Revenue

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