Issuing bonds at a discount

On the first day of the fiscal year, a company issues a $$3,700,000,6\%,10-$year bond that pays semiannual interest of $$111,000($$$3,700,0006\%\frac{1}{2}),$ receiving cash of $$2,978,059.$

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

Cash $$

Discount on Bonds Payable $$