On the first day of the fiscal year, a company issues a $1,500,000, 6%, 9-year bond that pays semiannual interest of $45,000 ($1,500,000 ? 6%

On the first day of the fiscal year, a company issues a $1,500,000, 6%, 9-year bond that pays semiannual interest of $45,000 ($1,500,000 � 6% � ½), receiving cash of $1,401,078. Journalize the bo...