Discount Amortization

On the first day of the fiscal year, a company issues a $3,000,000, 11%, 9-year bond that pays semiannual interest of $165,000 ($3,000,000 11% ), receiving cash of $2,547,343.

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.

	Interest Expense	210265 (incorrect)
	Discount on Bonds Payable		45265 (incorrect)
	Cash		165000 (correct)

I tried rounding One number up for Interest expense and Discount Payable up but still is wrong.

Premium Amortization

On the first day of the fiscal year, a company issues a $2,900,000, 10%, 6-year bond that pays semiannual interest of $145,000 ($2,900,000 10% ), receiving cash of $3,320,357.

Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.

	Interest Expense
	Premium on Bonds Payable
	Cash		145000 (correct)