3. On April 1, 2016, CMV Corp. issued $600,000, 5%, 10-year bonds at face value. The bonds were dated April 1, 2016, and pay interest annually on April 1. Financial statements are prepared annually on December 31. 1 Instructions (a) Prepare the journal entry to record the issuance of the bonds. Date Description Debit Credit (b) Prepare the adjusting entry to record the accrual of interest on December 31, 2016. Date Description Debit Credit (c) Prepare the journal entry to record the payment of interest on April 1, 2017. Date Description Debit Credit