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On the first day of the fiscal year, a company issues a $930,000, 9%, 5-year bond that pays semiannual interest of $41,850 ($930,000 x 9%
On the first day of the fiscal year, a company issues a $930,000, 9%, 5-year bond that pays semiannual interest of $41,850 ($930,000 x 9% 1/2), receiving cash of $884,171. Journalize the entry for the issuance of the bonds. If an amount box does not require an entry, leave it blank.
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