Discount Amortization On the first day of the fiscal year, a company issues a $5,600,000, 12%, 4-year bond that pays semiannual interest of $336,000 ($5,600,000 12% x 2), receiving cash of $5,429,516. 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.