Grodski Co. produces and distributes semiconductors for use by computer manufacturers. Grodski Co. issued $390,000 of 25-year, 12% bonds on May 1 of the current year, with interest payable on May 1 and November 1. The fiscal year is the calendar year.

Journalize the entries to record the selected transactions:

|May 1|Issued the bonds for cash at their amount

|Nov. 1|Paid the interest on the bonds

|Dec. 31|Reorded accrued interest for two months