instruction Chart Of Accounts General Journal Instruction On May 1, a company issues a $1,000,000, 7%, five-year bond that pays semiannual interest of $25,000 ($1,000,000 x 7% x 1/2), receiving cash of $884,171 Required: Journalize the first interest payment and the amorforation of the related bond discount premium using the straighine method. Round answers to the nearest do. Refer to the Chart of Account for exact wording of account the General Journal Journal the traineestament and the amortization of the related bond discount premium using the right line method on December 31. Refer to the Chart of Accounts for exact wording of accounties Hound answers to the nearest do POE JOURNAL DATE DESCRIPTION POST REF BERT CREDIT 1 3