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OBJ. 3 PE 14-38 Issuing bonds at a discount On the first day of the fiscal year, a company issues a $3,000,000, 11%, five-year bond

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OBJ. 3 PE 14-38 Issuing bonds at a discount On the first day of the fiscal year, a company issues a $3,000,000, 11%, five-year bond that pays semiannual interest of $165,000 ($3,000,000 11% ), receiving cash of $2,889,599. Journalize the bond issuance

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