On the 1st day of the fiscal year , a company issuesa $500,0000, 10%, 10 year bond that pays semiannual interst of$5,000 ($500,000 x 10% x ½), receiving cash of $463,202. Journalize the bond issuance.
Using the bond from the above journalize the first interestpayment and the amortization of the related bond discount.