Discount Amortization

On the first day of the fiscal year, a company issues a $$2,300,000,12\%,10-$year bond that pays semiannual interest of $$138,000($$$2,300,000\backslash$times $12\%\backslash$times $(1)/(2)),$ receiving cash of $$2,173,287.$

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.

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