On the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays semiannual interest of $20,000 ($500,000 8% 1/2). a. Journalize the entry for the bond issue, assuming cash of $490,000 is received in exchange. If an amount box does not require an entry, leave it blank. b. Journalize the entry for the bond issue, assuming cash of $515,000 is received in exchange. If an amount box does not require an entry, leave it blank.

On the first day of the fiscal year, a company issues a $500,000,8%,10-year bond that pays semiannual interest of $20,000($500,0008%1/2). a. Journalize the entry for the bond issue, assuming cash of $490,000 is received in exchange, If an amount box does not require an entry, leave it blank