1)On the first day of the fiscal year, a company issues a $7,600,000, 10%, 9-year bond that pays semiannual interest of $380,000 ($7,600,000 10% ), receiving cash of $6,410,700.

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 $7,700,000, 7%, 9-year bond that pays semiannual interest of $269,500 ($7,700,000 7% ), receiving cash of $7,212,620.

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