Thomson Co. produces and distributes semiconductors for use by computer manufacturers. Thomson issued $930,000 of 20-year, 8% bonds on May 1 of the current year at face value, with interest payable on May 1 and November 1. The fiscal year of the company is the calendar year. May Issued the bonds for cash at their 1 face amount. Nov. Paid the interest on the bonds. 1 Dec. Recorded accrued interest for two 31 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 ash Bonds Payable Nov. 1 Interest Expense Cash Dec. 31 Interest Expense Interest Payable Feedback Check My Work Bonds payable is always recorded at face value. The semi-annual cash payment to bondholders is the interest expense when bonds are sold at face value.