Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $3,200,000, 7%, 8-year bond that pays semiannual interest of $112,000 ($3,200,000 x 7% x 1/2), receiving cash of $2,840,512. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash 2,840,512 Discount on Bonds Payable Bonds Payable ul