On January 1, 2017 Mazen Company issued bond of $90,000 with 5% interest rate, for 10-year.

Instructions

Prepare the journal entries to record the following cases:

1- The issuance of the bonds at face value

2- The issuance of the bonds at 105% its face value

3- The issuance of the bonds at 90 % of its face value

4- The accrual of interest on December 31 on any cases of the above.