Donton Consulting Inc. is considering raising additional capital. Donton plans to raise the capital by issuing $ 600,000 of 10 %, five- year bonds on January 1, 2017 . The bonds pay interest semiannually on June 30 and December 31. On January 1, 2017 , the market rate of interest required by investors for similar bonds is 12%. 2. Calculate and record the cash received on the bond issue date. 3. Journalize the first interest payment on June 30 and amortize the premium or discount using the straight-line interest method.