To raise capital, companies might sell bonds. This allows them to bypass lenders such as banks and go directly to the investing public. Your company is planning to sell bonds with a face amount of $1,000 and paying 5% annual interest. (1) The day the bonds hit the market, the bond price is quoted at 100. What is the bond's selling price? and (2) how does the company record this sale in its accounting information system? Use journal entries to support your answer.