Discountiamortization On the first day of the fiscal year, a company issues a $2,500,000,80,5 yyear bond that pays semiannual interest of $100,000($2,500,0008%. Va), receiving cash of 42,300,000. Using straight-line amortization, joumalize the first interest payment and the amortization of the related bond discount. If an amount box does not require an entry, leave it blonk: 8onds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. The straight-line method of amortization provides equal amounts of amortization over the life of the bond