Problem:
On May 1, 2014, Herron Corp. issued $386,400, 8%, 5-year bonds at face value. The bonds were dated May 1, 2014, and pay interest semiannually on May 1 and November 1. Financial statements are prepared annually on December 31
Required:
Question: Prepare the journal entry to record payment of interest on November 1, 2015.
Note: Please show the work not just the answer.