On the first day of the fiscal year, a company issues a $$879,000,7\%,10-$year bond that pays semlannual interest of $$30,765($ $$879,0007\%\frac{1}{2}),$ recelving cash of $$923,000.$ 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.

Interest Expense $$

Premium on Bonds Payable $$

$xx$

$$

$xx$

$x$