On the first day of the fiscal year, a company issues a $880,000,10%, 10 - year bond that pays semi - annual interest of $44,000 ($880,000 times 10 % times 1/2), receiving cash of $924,000 journalize the entry to record the first interest payment and amortization using the straight - line method. If an amount box does not require an entry, leave it blank, or enter zero"0