On the first day of the fiscal year, a company issues a $2,500,000,4%, five-year bond that pays semiannual interest of $50,000 ( $2,500,0004% k), recelving cash of $2,400,000. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. reectback rCheck My Work Bonds Payable is ahways recorded at face value. Any difference in issue price is reflected in a premium or discount account. Leaming Objective z