Premium amortization Instructions Chart of Accounts Journal Instructions On the first day of the fiscal year, a company issues a $1,500,000, 11%, five-year bond that pays semiannual interest of $82.500 ($1,500,000 x 11% x 16), receiving cash of $1,804,070 Joumalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. Refer to the Chart of Accounts for exact wording of account sites