Issuing bonds at a premium OBJ. 3 On the first day of the fiscal year, a company

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Issuing bonds at a premium OBJ. 3 On the first day of the fiscal year, a company issues an $8,000,000, 11%, five-year bond that pays semiannual interest of $440,000 ($8,000,000 × 11% × ½), receiving cash of

$8,308,869. Journalize the bond issuance.

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