On January 1, 2017, Hannigan Company issued bonds with a face value of $600,000. The bonds carry a stated interest of 7% payable each January 1.

On January 1, 2017, Hannigan Company issued bonds with a face value of $600,000. The bonds carry a stated interest of 7% payable each January 1. 

1. Prepare the journal entry for the issuance assuming the bonds are issued at 97.

2.  Prepare the journal entry for the issuance assuming the bonds are issued at 102.