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Issuing Bonds at a Discount. On the first day of the fiscal year, a company issues a $5,100,000,7%,5-year bond that pays semiannual interest of $178,500

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Issuing Bonds at a Discount. On the first day of the fiscal year, a company issues a $5,100,000,7%,5-year bond that pays semiannual interest of $178,500 ($5,100,0007%1/2), receiving cash of $4,509,288. Journalize the bond issuance. If an amount box does not require an entry, leave it blank

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