Deer Corporation issued a \($80,000\), 7%, seven-year bond payable.
Requirement
1. Journalize the following transactions for Deer and include an explanation for each entry:
a. Issuance of the bond payable at par on January 1, 2010
b. Payment of semiannual cash interest on July 1, 2010
c. Payment of the bond payable at maturity. (Give the date.)