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 ($617,000x 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 III 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 PAGE 1 JOURNAL DATE DESCRIPTION POST, REF DEBIT CREDIT