Neuer Company issued $500,000, 10%, 10-year bonds at par. Interest is payable semiannually on July 1 and

Neuer Company issued $500,000, 10%, 10-year bonds at par. Interest is payable semiannually on July 1 and January 1.

Required:

Present journal entries to record the following.

(a) The issuance of the bonds.

(b) The payment of interest on July 1, assuming that interest was not accrued on June 30.

(c) The accrual of interest on December 31.