Instruction Chart Of Accounts General Journal Instruction On the first day of the fiscal year, a company issues a $617,000, 12%, 10-year bond that pays semiannual interest of $37,020 ($617,000 x 12 % x 1/2), receiving cash of $647,850. Required: Journalize the entry to record the first interest payment and amortization of premium using the straight-line method. Refer to the Chart of Accounts for exact wording of account titles General Journal Journalize the entry to record the first interest payment and amortization of premium using the straight-line method on December 31. Refer to the Chart of Accounts for exact wording of account titles JOURNAL DATE DESCRIPTION PAGE 1 ACCOUNTING EQUATION POST RE DEBY CREEKT ASSETS LIABILITIES EQUITY