Premium amortization Instructions Chart of Accounts Journal Instructions On the first day of the fiscal year, a company issues an $7,500,000,8%, five-year bond that pays semiannual interest of $300,000 (57,500,000 of $7.740.000 8% *%), receiving cash Journalize the first interest payment and the amortization of the related bond premium Round to the nearest doar Refer to the Chart of Accounts for exact wording of accouities