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 ($4,200,000 x 10% x 1/2), receiving cash of $4,041,710. Journalize the first interest payment and the amortization of the related bond discount. If an amount box does not require an entry, leave it blank.

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 ($4,200,000 x 10% x ), receiving cash of $4,041,710. Journalize the first interest payment and the amortization of the related bond discount. If an amount box does not require an entry, leave it blank. CUT