Question: A company issues a $3,000,000, 12%, five-year bond that pays semiannual interest of $180,000 ($3,000,000 12% ), receiving cash of $3,146,200. Journalize the

A company issues a $3,000,000, 12%, five-year bond that pays semiannual interest of $180,000 ($3,000,000 × 12% × ½), receiving cash of $3,146,200. Journalize the bond issuance.

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