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Verizon issues a 15-year, $20,000,000 bond on September 1, 2014 with a stated interest rate of 3.4%, payable semiannually. Market interest rates on September 1,

Verizon issues a 15-year, $20,000,000 bond on September 1, 2014 with a stated interest rate of 3.4%, payable semiannually. Market interest rates on September 1, 2014 were 3.8%. Prepare the journal entry to record the transaction on September 1, 2014.

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