On the first day of the fiscal year, a company issues an $830,000, 9%, 5-year bond that pays semiannual interest of $37,350 ($830,000 x 9% x 1/2), receiving cash of $780,200. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank. Interest Expense 32,390 Discount on Bonds Payable 4,960 Cash 37,350