Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $5,800,000, 8%, 7-year bond that pays semiannual interest of $232,000 ($5,000,000 * 8% *), receiving cash of $5,503,539. Joumalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash X Discount on Bonds Payable Bonds Payable