Discount Amortization On the first day of the fiscal year, a company issues a $7,600,000, 8%, 5-year bond that pays semiannual interest of $304,000 ($7,600,000 x 8% x ), receiving cash of $7,299,316. 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.