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On the first day of the fiscal year, a company issues a $3,200,000, 6%, 9-year bond that pays semiannual interest of $96,000 ($3,200,000 x 6%

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On the first day of the fiscal year, a company issues a $3,200,000, 6%, 9-year bond that pays semiannual interest of $96,000 ($3,200,000 x 6% x V2), receiving cash of $3,952,285. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Ill

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