On the first day of the fiscal year, a company issues a $714,000, 9%, 10-year bond that pays semiannual interest of $32,130 ($714,000 x 9% x 1/2), receiving cash of $749,700. 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