On the first day of the fiscal year, a company issues a $852,000, 6%, 10-year bond that pays semiannual interest of $25,560 ($852,000 x 6% x 1/2). receiving cash of $894,600. Joumalize the entry to record the first interest payment and amortization of discount/premlum using the straight-line method. If an amount box does not require an entry, leave it blank or enter "o". Previous Next