Discount Amortization On the first day of the fiscal year, a company issues a $7,700,000, 12%, 5-year bond that pays semiannual interest of $462,000 ($7,700,000 x 12% x V), receiving cash of $7,159,185. 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