Instruction On the first day of the fiscal year, a company issues an $946,000, 8 % , 5- year bond that pays semiannual interest of $37,840 (5946,000x 8 % x 1/2) , receiving cash of $889.240 Required Journalze 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 CemriOurnal Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-ine method on December 31 Refer fto the Chart of Accounts for exact wording of account ttles PAGE 1 JOURNAL DATE DESCRIPTION POST, REF DEBIT CREDIT