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On the first day of the fiscal year, a compary issues a $5,300,000,8%, five-vear bond that pays semiannual interest of $212,000 ( $5,300,0008%. ) ,

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On the first day of the fiscal year, a compary issues a $5,300,000,8%, five-vear bond that pays semiannual interest of $212,000 ( $5,300,0008%. ) , receiving cash of $5,520,390. Journalize the bond issuance. If an amount box does not require an entry, leave it blank

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