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Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $4,900,000, 6%, 8-year bond that pays semiannual interest

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Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $4,900,000, 6%, 8-year bond that pays semiannual interest of $147,000 ($4,900,000 x 6% x W), receiving cash of $4,603,694. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Discount on Bonds Payable 110 9 Bonds Payable

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