On the first day of the fiscal year, a company issues a $343,000, 8%, 10-year bond that pays semiannual interest of $13,720 ($343,000 x 8% X 1/2), receiving cash of $360,200. 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. Cash 360,200 Bonds Payable Premium on Bonds Payable