Deer Corp. issued $5\mathrm{.}5\%$ fifteen$-$year bonds payable with a face amount of $$40,000$ when the market interest rate was $5\mathrm{.}5\%.$ Deer's fiscal year$-$end on December $31.$ The bonds pay interest on January $1$ and July $1.$

Read the requirement.

a$.$ Issuance of the bonds payable at par on July $1,2021$

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b$.$ Accrual of interest expense on December $31,2021$

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c$.$ Payment of cash interest on January $1,2022$

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d$.$ Payment of the bonds payable at maturity $($give the date$)$

Journal Entry

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