Bond discount, entries for bonds payable transactions

On July $1,20$Y$1,$ Livingston Corporation, a wholesaler of manufacturing equipment, issued $$46,000,000$ of $20-$year, $10\%$ bonds at a market $($effective$)$ interest rate of $11\%,$ receiving cash of $$42,309,236.$ Interest on the bonds is payable semiannually on December $31$ and June $30.$ The fiscal year of the company is the calendar year.

Required:

For all journal entries, if an amount box does not require an entry, leave it blank.

Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July $1,20Y1.$

$20$ Y $1$ July $1$

Discount on Bonds Payable