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Discount Amortization On the first day of the fiscal year, a company issues a $5,000,000, 12%, 8-year bond that pays semiannual interest of $300,000 (55,000,000

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Discount Amortization On the first day of the fiscal year, a company issues a $5,000,000, 12%, 8-year bond that pays semiannual interest of $300,000 (55,000,000 * 12%), receiving cash of $4,527,669 Journalize the first interest payment and the amortisation of the related bond dincount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank 9

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