Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $6,100,000, 9%, 8-year bond that pays semiannual Interest of $274,500 ($6,100,000 * 9%*), receiving cash of $5,769,447 Journalize the bond Issuance. If an amount box does not require an entry, leave it blank. Cash Discount on Bonds Payable Bonds Payable Festa Chook My Wo Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account