On the first day of the fiscal year, a company issues an $719,000, 10%, 5-year bond that pays semiannual interest of $35,950 ($719,000 X 10% x 1/2), receiving cash of $675,900. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank