On the first day of the fiscal year, a company issues a $907,000, 8%, 10-year bond that pays semiannual interest of $36,280 ($907,000 x 8% x 1/2), receiving cash of $952,400. 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 Cash