On January 1, the first day of the fiscal year, a company issues a $2,500,000,4%, five-year bond that pays semiannual interest of $50,000 ($2,500,000 X 4%), receiving cash of $2,390,599 Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest doftar. Hefer to the Chart of Accounts for exact wording of account nines. CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 121 Accounts Receivable 611 Gain on Redemption of Bonds 122 Allowance for Doubtful Accounts 126 Interest Receivable EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 127 Notes Receivable 131 Merchandise Inventory 141 Office Supplies 191 Land 194 Office Equipment 195 Accumulated Depreciation Office Equipment 516 Cash Short and Over 522 Office Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Repairs Expense Work $2, 252 Discount on Bonds Payable 711 Loss on RE 253 Premium on Bonds Payable Jou EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends 390 Income Summary Check My Work