Issuing Bands at a Discount On the first day of the fiscal year, a company issues a $3,000,000, 11%, five year bond that pays seriamual interest of $165,000 ($3,000,000 * 11% * W), receiving cash of $2,889,599 Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Discount on Bonds Payable Bonds Payable 110