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Entries for Issuing Bonds Abioye Co. produces and distributes semiconductors for use by computer manufacturers. Abioye Co. issued $990,000 of 25 -year, 8% bonds on
Entries for Issuing Bonds Abioye Co. produces and distributes semiconductors for use by computer manufacturers. Abioye Co. issued $990,000 of 25 -year, 8% 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. 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
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