Monster Industries Ltd. borrowed money by issuing a $60,000 6.5%, 10-year bond. Assume that Monster Industries issued the bond on June 1, 2020 , at a price of 90. Also assume that MonsterIndustries's accounting year ends on November 30.

Journalize the following transactions for Industries, including an explanation for each entry:

a. Issuance of the bonds on June 1,2020 .

b. Accrual of interest expense and amortization of bonds on November 30,2020 . (Use the straight-line amortization method, and round amounts to the nearest dollar.)

c. Payment of the first semi-annual interest amount onDecember 1, 2020