of premium using the straight-line method. if an amount box does not require an entry, leave it blank

On the first day of the fiscal year, a company issues a $587,000, 8%, 10-year bond that pays semiannual interest of $27,480 ($687,000 x 8% x 1/2), receiving cash of $721,400. Journalize the entry for the first interest payment and amortization of premium using the straight-line method. If an amount box does not require an entry, leave it blank.