Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $4,400,000, 8%, 5-year bond that pays semiannual interest of $176,000 ($4,400,000 x 8% x V2), receiving cash of $4,775,329. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable CE TI Cash