Using the bond from Practice Exercise 14-3B, journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar.

Data from Exercise 14-3B,

On the first day of the fiscal year, a company issues a $4,200,000, 10%, five-year bond that pays semiannual interest of $210,000 ($4,200,000 × 10% × ½), receiving cash of $4,041,710. Journalize the entry record and the issuance of bonds.