rob 4A On Oct 1, 2016, Kristal Corp issued $700,000, 596, 10 yr bonds at face value. The bonds were dated Oct 1 2016, and pay interest annually on Oct 1. Financial statements are prepared annually on Dec 31. 2016 (a) Oct. 1 C Cash . Bonds Payable.. (b) Dec. 31 Interest Expense. Interest Payable X 5% X 3112) (Interest expense - Face value of bond X Interest rate X 3/12) (c) Current Liabilities Interest Payable rob 4A On Oct 1, 2016, Kristal Corp issued $700,000, 596, 10 yr bonds at face value. The bonds were dated Oct 1 2016, and pay interest annually on Oct 1. Financial statements are prepared annually on Dec 31. 2016 (a) Oct. 1 C Cash . Bonds Payable.. (b) Dec. 31 Interest Expense. Interest Payable X 5% X 3112) (Interest expense - Face value of bond X Interest rate X 3/12) (c) Current Liabilities Interest Payable