Discount Amortization

On the first day of the fiscal year, a company issues a $6,900,000 , 9% , 9-year bond that pays semiannual interest of $310,500 ($6,900,000 x 9% x 1/2 ) , receiving cash of $6,496,712.

Journalize the first interest payment and the amortization of the related bond discount.

Name. Amount (Debit or Credit).

___________. _________\ ________.

___________. _________\ ________.

___________. _________\ ________.