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Vemon Corp, issued 7% ten-year bonds payable with a face amount of $60,000 when the markot interest rate was 7%. Vernori's fiscel year-end on Docortber

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Vemon Corp, issued 7% ten-year bonds payable with a face amount of $60,000 when the markot interest rate was 7%. Vernori's fiscel year-end on Docortber 31 . The bonds piy internet on datuas 1 and July 1. Road the requirement- a. Issuance of the bonds payable at par on July 1,2018 b. Payment of the bonds payable at maturity (ghe the date) Requirement Journalize the following transactions for Vernon. Include an explanation for each entry. a. Issuance of the bonds payable at par on July 1,2018 b. Accrual of interest expense on December 31, 2018 c. Payment of cash interest on January 1, 2019 d. Payment of the bonds payable at maturity (give the date) (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

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