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Abioye Co, produces and distributes semiconductors for use by computer manufacturers. Abioye Co. issued $360,000 of 10 -year, 11% bonds on May 1 of the

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Abioye Co, produces and distributes semiconductors for use by computer manufacturers. 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 November 1 . The fiscal year of the company is the calendar year. Required: Joumalize the entries to recond the following selected transactions for the ctureit year feeter to the chart of accounts for the exact wording of the account titles. CNOW joumals do not ise Ines for joumal explanatons. Every ine on a joumal page is used for debit or credit entries. CNow joumals will outomadicaly inderi a credt entry when a credir amount is entered May 1 Issued the bonds for cast at their face amount Nov. 1 Paid the interest on the bonds. Dec. 31 Recorded accrued interest for fwo mionths. Instructions Ehart of Aecounts Joumai Chart of Accounts Ab 241 Notes Payabie 251 Bonds Payable 252 Discount on Bonds Payable 253 Premium on Bonds Payable EQUITY 311 Common Stock 312 Paid-in Capital in Excess of Par-Common Stock 315 Treasury Stock 321. Preferred Stock 322 Paid In Capital in Excess of Par-Preferrod Stock 331 Paid-In Capital from Sale of Treasury Stock 590 Miscellaneous Expense 710 Interest Expense 711 Loss on Redemption af Bonds Journalize the transoctions. Refer to the chart of accounts for the exact wording of the account tiles: CNoW journos do not use lines for joumal explanations. Every ine on a joumal page is used for debit or credit entries. CNOWjoumals wil automaticaly indent a credit enity when a credit amount is entered

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