Discount Amortization On the first day of the fiscal year, a company issues a $3,600,000, 6%, 8-year bond that pays semiannual interest of $100,000 ($3,600,000 x 6% x V), receiving cash of $3,180,517. 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 81.782.31 X Discount on Bonds Payable 2421749 X Cash Feedback My W he nt account. The straighting method of mortization provides equal amounts of Bonds Payable is always recorded at face value. Any difference in issue price amortization over the le of the bond