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On the first day of the fiscal year a company issues a $2,500,000, 6%, 6-year bond that pays semiannual interest of $75,000 ($2,500,000 x 6%

On the first day of the fiscal year a company issues a $2,500,000, 6%, 6-year bond that pays semiannual interest of $75,000 ($2,500,000 x 6% x 1/2), receiving cash of $2,379,209. Journalize the bond issuance. If an amount box does not require an entry, leave it blank

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