Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $5,300,000, 8%, five-year bond that pays semiannual interest of $212,000 ($5,300,000 x 8% x 1/2), receiving cash of $5,520,390. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $5,300,000, 8%, five-year bond that pays semiannual interest of $212,000 ($5,300,000 x 8% x 2), receiving cash of $5,520,390. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.