Issuing Bonds at a Discount Instructions Chart of Accounts Journal Instructions On January 1, the first day of the fiscal year, a company issues a $1,800,000, 6%, five-year bond that pays semiannual interest of $54,000 ($1,800,000 x 6% 42), receiving cash of $1,725,151. 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. Journal Shaded cells have feedback 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. How does grading work? PAGE 10 JOURNAL Score: 24/37 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Jan. 1 Interest Payable 61,485.00 1 2 Discount on Bonds Payable 7,485.00 3 Cash 54,000.00 1