Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $2,500,000,4%, fiveyear bond that pays semiannual interest of $50,000 ($2,500,000 * 4** ), receiving cash of $2,400,000 Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash X Discount on Bonds Payable 9 Bonds Payable