On the first day of the fiscal year, a company issues a $7,800,000, 8%, 10-year bond that pays semiannual interest of $312,000 ($7,800,000 8% ), receiving cash of $8,354,284.

Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.

**Please show work so I may understand how to get the answer. I have another problem like this one.**