Instructions X On January 1, the first day of the fiscal year, a company issues a $2,300,000, 11%, five-year bond that pays semiannual interest of $126,500 ($2,300,000 x 11% x ), receiving cash of $2,251,150. Required: Journalize the entry to record the issuance of the bonds. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

On January 1, the first day of the fiscal year, a company issues a $2,300,000,11%, five-year bond that pays semiannual interest of $126,500 ( $2,300,00 11%1/2 ), receiving cash of $2,251,150. Required: Journalize the entry to record the issuance of the bonds. Fefer to the chart of accounts for the exact wording of the account titles. CNOW joumals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a crodit entry when a credit amount is entered