On the first day of the fiscal year, a company issues a

$$3,500,000,6\%,$ five$-$year bond that pays semiannual interest of

$$105,000($$$3,500,000\backslash$times $6\%\backslash$times $(1)/(2)),$ receiving cash of $$3,350,000.$Journalize the bond issuance on January $1.$ Refer to the Chart of

Accounts for exact wording of account titles.