Question: MoOvaid Corp, lssued 10% five-year bonds payable with a face amount of $40,000 when the maket interest rate was 10%. McQusions fical yesr-end on December

MoOvaid Corp, lssued 10% five-year bonds payable with a face amount of $40,000 when the maket interest rate was 10%. McQusions fical yesr-end on December 31 . The bonds pay interest on January 1 and July 1. Read the a. Issuance of the bends payoble at par on July 1,2021 Requirement Journalize the following transactions for McQuaid. Include an explanation for each entry. a. Issuance of the bonds payable at par on July 1, 2021 b. Accrual of interest expense on December 31,2021 c. Payment of cash interest on January 1,2022 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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