Q.3 Prepare journal entries to record the following selected transactions that occurred during the company's operations: (4 marks)

1. On January 30, 2017, Candlestick, Inc. sells $100,000, five-year, 10 % bonds for 92.639% of face value.
2. Company sells $100,000, five-year, 10 % bonds for 108.111% of face value on July 1, 2017.