Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $2,400,000, 11%, 8-year bond that pays semiannual interest of $132,000 $2,400,000 11% x 42), receiving cash of $2,530,054. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash 2,530,054 Premium on Bonds Payable 2,400,000 130,054 Discount on Bonds Payable