Instruction Chart Of Accounts General Journal Instruction On July 1, a company issues an $866,000, 9% , five-year bond that pays semiannual interest of $38,970 ($866,000 x 9% x 1/2) receiving cash of $814,040 Required: Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. Refer to the Chart of Accounts for exact wording of account titles