On the first day of the fiscal year, a company issues a $4,700,000,9%,5-year bend that pays semiannual interest of $211,500($4,700,0009%61/2), receiving cash 5,518,542 Using straight-line amortization, joumalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it biank. Bonds Payable is always recorded at foce value. Any difference in issue price is reflected in a premium or discount account. The straight-line method of amortization provides equal amounts of amortiration over the life of the bond