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Yancy Company issued a $125,000, 5.0%, 10-year bond payable. Journalize the following transactions for Yancy Company, and include an explanation for each entry: a. Issuance

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Yancy Company issued a $125,000, 5.0%, 10-year bond payable. Journalize the following transactions for Yancy Company, and include an explanation for each entry: a. Issuance of the bond payable at face value on January 1, 2018. b. Payment of semiannual cash interest on July 1, 2018 c. Payment of the bond payable at maturity, assuming the last interest payment had already been recorded. (Give the date.) (Record debits first, then credits. Select explanations on the last line of the journal entry) a. Issuance of the bond payable at face value on January 1, 2018 Date Accounts and Explanation 2018 Debit Credit Jan. 1

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