On the first day of the fiscal year, a company issues a $378,000, 11%, 10-year bond that pays semiannual interest of $20,790 ($378,000 x 11 % x 1/2), receiving cash of $395,900. Journalize the entry to record 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 Cash Premium on Bonds Payable Bonds Payable 378,000