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On the first day of the fiscal year, a company issues a $910,000, 7%, five-year bond that pays semiannual interest of $31,850 ($910,000 x 7%

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On the first day of the fiscal year, a company issues a $910,000, 7%, five-year bond that pays semiannual interest of $31,850 ($910,000 x 7% x 1/2), receiving cash of $884,177. Required: Journalize the entry to record the issuance of the bonds. Refer to the Chart of Accounts for exact wording of account titles

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