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Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $7,900,000, 9%, 10-year bond that pays semiannual

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Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $7,900,000, 9%, 10-year bond that pays semiannual interest of $355,500 ($7,900,000 x 9% x %), receiving cash of $9,022,778. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

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