Using the bond from Practice Exercise 14-5A, journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar.

Data from Exercise 14-5A,

On the first day of the fiscal year, a company issues a $8,600,000, 11%, five-year bond that pays semiannual interest of $473,000 ($8,600,000 × 11% × ½), receiving cash of $8,932,035. Journalize the bond issuance.