Sol Company is issuing the bond on Jan $1,2021$ as follows:

Face Value: $$50000$

Contractual Interest Rate: $4\%,$ payable annually

Due in $5$ years on Jan $1,2026$

Please compute the Bond price at the issuance in three case scenarios below and complete the amortization table of the discount$/$premium

Please prepare all journal entries between Jan $1,2021$ to Jan $1.2026($i$.$e$.,$ issuance of bond, accrual of interest at the end of each year, payment of interest, redemption of bond on maturity$)$

Case $1.$ When market rate is $4\%$ same as the contractual rate

Yearly intrest payment$=$ Face value of Bond$*$ coupon rate $=50000**4\%=2000$

Dec $31,2021-2025$

Jan $1,2022-2026$

Jan $1,2026$ Case $2.$ When the market rate is $5\%$

Jan $12021$

Cash

Bonds payable

Dec $31,$ Case $3.$ When the market rate is $3\%$