Premium Amortization On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year band that pays semiannual interest of $300,000 ($7,500,000 x 8% * V.), recelving cash of $7,740,000 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. III 9