Discount Amortization On the first day of the fiscal year, a company issues a $4,200,000, 10%, five-year bond that pays semiannual interest of $210,000 (54,200,000 * 10% x V), receiving cash of $4,041,710 Joumalize the first interest payment and the amortization of the related bond discount. If an amount box does not require an entry, leave it blank Interest Expense Discount on Bonds Payable Cash 210,000 Feedback Deck My W Bonds Payable is always recorded at face value. Any difference in price is reflected in a premium or discount account. The straight line malhod of amortization provides qual amount of motion over of the bond