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S9-3. (Learning Objective 1: Journalize basic bond payable transactions and bonds issued at par) Yancy Corp. issued 6% seven-year bonds payable with a face amount of $110,000 when the market interest rate was 6%. Yancy's fiscal year-end is December 31. The bonds pay interest on January 1 and July 1 . Journalize the following transactions for Yancy. 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) E9-18A. (Learning Objective 1: Measure cash amounts for a bond payable (premium); amortize bond premium using the straight-line method) Perry Bank has $450,000 of 9% debenture bonds outstanding. The bonds were issued at 105 in 2021 and mature in 2041. The bonds have annual interest payments. Requirements 1. How much cash did Perry Bank receive when it issued these bonds? 2. How much cash in total will Perry Bank pay the bondholders through the maturity date of the bonds? 3. Calculate the difference between your answers to requirements 1 and 2 . This difference represents Perry Bank's total interest expense over the life of the bonds. 4. Compute Perry Bank's annual interest expense using the straight-line amortization method. Multiply this amount by 20. Your 20-year total should be the same as your answer to requirement 3