Issuing bonds at a discount On the first day of the fiscal year, a company issues a $4,000,000, 12%, 6-year bond that pays semiannual interest of $240,000 ($4,000,000 x 12% x 2), receiving cash of $3,682,292. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. 188

Issuing bonds at a discount On the first day of the fiscal year, a company issues a $4,000,000,12%,6-year bond that pays semiannual interest of $240,000($4,000,00012% k), recelving cash of $3,682,292. Sournalite the band issuance. If an amount box does not require an entry, leave it blank