. McQueen Corp. issued 7.8% seven year bonds payable with a face amount of 300,000 when the market interest rate was 75%. Assume that the accounting year of Mecen ends on December 31 and that bonds pay rest on January July 1. Joumanize the following ansactions for Men Include an explanation for each entry Record debits first, the credits Select the explanation on the last line of the smal sty) Issuance of the bonds payable at paroly 1, 2016 b Accrual of interest expense on December 31, 2016 rounded to the nearest dolar) 6. Payment of cash interest on January 1, 2017 d. Payment of the bonds payable at maturity love the date) a. Issuance of the bonds payable at par on July 1, 2016 Joumal Entry Data Accounts and Explanations 2016 Debit Credit Jul 1 b. Accrual of interest expense on December 31, 2016 rounded to the nearest dan Journal Entry Accounts and Explanations Date Debit Credit 2016 Dec 31