Discount Amortization On the first day of the fiscal year, a company issues a $8,400,000, 11%, 10-year bond that pays semiannual interest of 5462,000 ($8,400,000 x 115 x V) receiving cash or 57,979,444. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. It an amount box does not require an entry, leave it blank. Premium on Bonds Payable Bonds Payable Cash