Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $8,500,000, 6%, 7-year bond that pays semiannual Interest of $255,000 ($8,500,000 x 6% V2), receiving cash of 57,602,133, Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Discount on Bonds Payable Bonds Payable