eBook Show Me How Locator &inprogress=false Entries for Issuing Bonds Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson Co. issued $240,000 of 10-year, 7% bonds on May 1 of the current year at face value, with inte year of the company is the calendar year. May 1 Issued the bonds for cash at their face amount. Paid the interest on the bonds. Nov. 1 Dec. 31 Recorded accrued interest for two months. Journalize the entries to record the above selected transactions for the current year. Round your answers to whole number May 1 Cash 240,000 Bonds Payable 240,000 Nov. 1 Interest Expense Dec. 31 Check My Wo Bonds Payable is atways recorded at face value. Any difurance in issue stice is ratacted in a premium or discount account The straight ana method af amortization provides equal amounts of amortication over the the of the bow