On the first day of the fiscal year, a company issues a $652,000, 10%, 10-year bond that pays semiannual interest of $32,600 ($652,000 x 10% x 1/2), receiving cash of $684,600. 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 Discount on Bonds Payable Cash 32,600