On the first day of the fiscal year, a company issues a $940,000, 7%, 5-year bond that pays semiannual interest of $32,900 ($940,000 x 7% 1/2), receiving cash of $884,177. Journalize the entry to record the issuance of the bonds.

If an amount box does not require an entry, leave it blank.

On the first day of the fiscal year, a company issues a $940,000, 7%, 5-year bond that pays semiannual interest of $32.900 ($940,000 x 7% * 1/2), receiving cash of $884,177. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank Cash Discount on Bonds Payable Bonds Payable 8