Issuing bonds at a discount

On the first day of the fiscal year, a company issues a $$1,000,000,10\%,8-$year bond that pays semiannual interest of $$50,000($$$1,000,000\backslash$times $10\%\backslash$times $(1)/(2)),$ receiving cash of $$898,941.$

Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

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