On the first day of the fiscal year, a company issues a $428,000, 7%, 10-year bond that pays semiannual interest of $14,980 ($428,000 x 7% x 1/2), receiving cash of $449,400. 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.