On the first day of the fiscal year, a company issues a $374,000, 12%, 10-year bond that pays semiannual interest of $22,440 ($374,000 x 12% x 1/2), receiving cash of $392,700. 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.