Entries for Issuing Bonds Abloye co produces and distributes semiconductors for use by computer manufacturers. Abloye Co. Issued $700,000 of 10-year, 9% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The finca 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, Journalize the entries to record the above selected transactions for the current year. If an amount box does not require an entry, leave it blank May 1 Cash 700.000 Bonds Payable 700,000 Nov. 1 Interest Expense . 72,000 X Cash 72.00 X 34 X Dec 31 Interest Expense Interest Payable 24.00 X