1)On the first day of the fiscal year, a company issues a $1,600,000, 8%, 5-year bond that pays semiannual interest of $64,000 ($1,600,000 8% ), receiving cash of $1,810,050.

Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

2)On the first day of the fiscal year, a company issues a $1,700,000, 10%, 10-year bond that pays semiannual interest of $85,000 ($1,700,000 10% ), receiving cash of $1,810,568.

Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.