Premium Amortization

On the first day of the fiscal year, a company issues a $$2,800,000,6\%,8-$year bond that pays semiannual interest of $$84,000($$$2,800,000\backslash$times $6\%\backslash$times $(1)/(2)),$ receiving cash of $$3,180,174.$

Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.

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