Grodski Co. produces and distributes semiconductors for use by computer manufacturers. Grodski Co. issued $360,000 of 10-year, 9% bonds on May 1 of the current year, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year.

Journalize the following:

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.