On the first day of the fiscal year, a company issues a $573,000, 8%, 10-year bond that pays semiannual interest of $22,920 ($573,000 x 8% x 1/2), receiving cash of $601,700. Journalize the entry to record the first interest payment and amortization of discount/premium using the straight-line method. If an amount box does not require an entry, leave it blank or enter "0". Interest Expense 24,355 X Interest Revenue X x 1,435 X Cash 22,920