On Jan 1, 2020, Brant Corporation issued 400 of its $1,000, ten-year, 9% bonds quoted at 99. While on Jan 2, 2020 the company issued $100,000 worth of its five-year, 7% bonds quoted at 103.

Determine whether the bonds sold at par, at a premium or at a discount? Write the journal entries to record the sale of the bonds on Jan 1, 2020 and on Jan 2, 2020. (8 marks)