Instruction On the first day of the fiscal year, a company issues a $605,000,7%, 10-year bond that pays semiannual interest of $21,175 (5605,000 * 7% * 1/2), receiving cash of $635,250 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