Premium Amortization Instructions Chart of Accounts Journal Journal Instructions On January 1, the first day of the fiscal year, a company issues an $8,600,000, 11%, five-year bond that pays semiannual interest of $473,000 ($8,600,000 x 11% x 2), receiving cash of $8,932,035. Required: Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. X bunts for the exac tomatically indent 4 LIABILITIES Scor COUNTING FOLIATI

On Janutiry 1 , the first day of the fiscal year, a company issues an $8,600,000,11%, fiye-year bond that pays semiannual interest of Sunts for the exact tomatically indent Required: Journalize the firat interbst payment and the amontation of the related bond premum. Round to the nearest dollar. fiefar fo the Chart of accounts for the exact wording of the eccount tites CNOW joumais do not use lines for joumal explanadons Every line on a journar page is used for debir or creot entries. CNoW fouma's wil automaticaby indent a credit entry when a crodit amount is entersod