Entries for Issuing Bonds Abiove Co. produces and distributes semiconductors for use by computer manufacturers. Above Co, issued S700.000 of 10-year 99% bonds on May 1 of the current year at face value, with interest payable on May and November 1. The fiscal Year of the company is the calendar year. May 1. Issued the bonds for cash at their face amount. Nov 1 Paid the interest on the bonds. Dec. 31. Recorded accrued interest for two months