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 .

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