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Thomson Co. produces and distributes semiconductors for use by computermanufacturers. Thomson issued $930,000 of 20-year,...

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Thomson Co. produces and distributes semiconductors for use by computermanufacturers. Thomson issued $930,000 of 20-year, 8% bonds on May 1 ofthe current year at face value, with interest payable on May 1 and November 1.The fiscal year of the company is the calendar year.May Issued the bonds for cash at their1face amount.Nov.1Paid the interest on the bonds.Dec. Recorded accrued interest for two31 months.Journalize the entries to record the above selected transactions for the currentyear. If an amount box does not require an entry, leave it blank.May 1ashBonds PayableNov. 1 Interest ExpenseCash38FeedbackCheck My WorkBonds payable is always recorded at face value. The semi-annual cashpayment to bondholders is the interest expense when bonds are sold atface value.Dec. 31 Interest ExpenseInterest Payable

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