bond discount. Round to the nearest dollar. EE 14-5 p. 685 PE 14-5A Issuing bonds at a premium N OBJ. 3 On the first day of the fiscal year, a company issues a $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 x 8% x 2), receiving cash of $7,811,873. Journalize the bond issuance.