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On the first day of the fiscal year, a company issues a $1,000,000,8%, five-year bond that pays semiannual interest of $40,000($1,000,0008%1/2), receiving cash of $951,590. Journalize the bond issuance on January 1. Refer to the Chart of Accounts for exact wording of account titles. Journalize the bond issuance on January 1. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS General Ledger \begin{tabular}{ll} & 533 Repairs Expense \\ LIABILITIES & 535 Rent Expense \\ 210 Accounts Payable & 536 Insurance Expense \\ 221 Salaries Payable & 537 Office Supplies Expens \\ 231 Sales Tax Payable & 541 Bad Debt Expense \\ 232 Interest Payable & 562 Depreciation Expense- \\ 241 Notes Payable & 590 Miscellaneous Expe \\ 251 Bonds Payable & 710 Interest Expense \\ 252 Discount on Bonds Payable & 711 Loss on Redemption \\ 253 Premium on Bonds Payable & \\ \hline EQUITY & \\ 311 Common Stock & \\ 312 Paid-In Capital in Excess of Par-Common Stock & \\ 315 Treasury Stock & \\ 321 Preferred Stock & \\ 322 Paid-In Capital in Excess of Par-Preferred Stock & \\ 331 Paid-In Capital from Sale of Treasury Stock & \\ 340 Retained Earnings & \\ 351 Cash Dividends & \\ 352 Stock Dividends & \end{tabular}