Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $4,400,000, 10%, 7-year bond that pays semiannual interest of $220,000 ($4,400,000 x 10 % x V), receiving cash of $3,991,021. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank