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Abioye Co produces and distributes semiconductors for use by computer manutacturers. Abioye Co issued $360,000...

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Accounting

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Abioye Co produces and distributes semiconductors for use by computer manutacturers. Abioye Co issued $360,000 of 10 -year, 11% bonds on May 1 of the current year at face value, with interest payable on May 1 and Novernber 1 . The fiscal yeat of the company is she calendar year. Required: Journalize the entries to record the foliowng selected transactions for the current year Reter to the chart of actounts for the exact wording ar the account tites. CNOWjoumals do not use lines for joumal explanations. Every ane on a joumal page is used for debit or credir entries CNVW jocmals will automatcaly indent a credit entry when a credit amount is entered May 1 Issued the bonds for cash at their tace amount Nov. I Paid the interest on the bonds Dec: 31 Recorded accrued interest for two months oumalize the transactions Refer to the chart of accountsi for the exact warding of the account fities cNow iournals do not use ines forjournal explanatons Eveny line or joumal page is used for debit or credit entries. CNOW oumials wal automaticaly indent a credit entry when a credt aimount is entered

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