On the first day of the fiscal year, a company issues a $970,000, 7%, five-year bond that pays semi-annual interest of $33,950, receiving cash of $884,178. Journalize the entry to record the issuance of the bonds.

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	Bonds Payable Cash Interest Payable Notes Payable Premium on Bonds Payable Correct 2	Correct 3	Correct 4
	Bonds Payable Discount on Bonds Payable Interest Expense Interest Revenue Notes Payable Correct 5	Correct 6	Correct 7
	Bonds Payable Cash Discount on Bonds Payable Interest Payable Premium on Bonds Payable Correct 8	Correct 9	Correct 10