Hare Corp. issued 5% ten-year bonds payable with a face amount of $70,000 when the market interest rate was 5%, Hare's fiscal year end on December 31 The bonds pay interest on January 1 and July 1. Read the requirement. b. Accrual of interest expense on December 31, 2018 Journal Entry Accounts and Explanations Debit Date 2018 Dec 31 Credit c. Payment of cash interest on January 1, 2019