On January 1, the first day of the fiscal year, a company issuesa $1,000,000, 8%, five-year bond that pays semiannual interest of$40,000 ($1,000,000 ? 8%

On January 1, the first day of the fiscal year, a company issuesa $1,000,000, 8%, five-year bond that pays semiannual interest of$40,000 ($1,000,000 � 8% � ½), receiving cash of $951,590.Journal 2 answers