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On the first day of the fiscal year, a company issues a $6,100,000, 6%, 8-year bond...

On the first day of the fiscal year, a company issues a $6,100,000, 6%, 8-year bond that pays semiannual interest of $183,000 ($6,100,000 × 6% × ½), receiving cash of $5,389,209. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash 5,389,209 Discount on Bonds Payable 710,791 Bonds Payable 6,100,000

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