Journalize the following transactions for Rabbit. 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.$)$Rabbit Corp. issued $8\%$ fifteen$-$year bonds payable with a face amount of $$130,000$ when the market interest rate was

$8\%.$ Rabbit's fiscal year$-$end on December $31.$ The bonds pay interest on January $1$ and July $1.$

Read the equiremen.

a$.$ Issuance of the bonds payable at par on July $1,2018$

Journal Entry