On the first day of the fiscal year, a company issues a $2,000,000, 8%, five-year bond that
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On the first day of the fiscal year, a company issues a $2,000,000, 8%, five-year bond that pays semiannual interest of $80,000 ($2,000,000 × 8% × ½), receiving cash of $1,920,873.
Journalize the bond issuance.
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Related Book For 
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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