Vernon Corp. issued 7.5% ten-year bonds payable with a face amount of $40,000 when the market interest rate was 7.5%. Vernon's fiscal year-end on December 31. The bonds pay interest on January 1 and July 1. Read the requirement. a. Issuance of the bonds payable at par on July 1, 2018 Journal Entry Accounts and Explanations Jul Date 2018 1 b. Accrual of interest expense on December 31, 2018 Journal Entry Accounts and Explanations Dec Date 2018 31 Debit Debit Credit Credit Next al health es for sophy es for iology ealth G (0) HTTP er Supp

Vernon Corp. issued 7.5% ten-year bonds payable with a face amount of 540.000 when the market interest rava was 7.5% Vemon's fseal year-end en December 31 . The bonds pay interest on January 1 and Juby 1 Read the requirement a. Issuarce of the bonds payable it par on July 1, 2018 b. Accrual of interest expense on December 31, 2018