Premium amortization

On the first day of the fiscal year, a company issues a $$8,800,000,7\%,8-$year bond that pays semiannual interest of $$308,000($$$8,800,000\backslash$times $7\%\backslash$times $(1)/(2)),$ receiving cash of $$9,948,839.$

Using straight$-$line amortization, 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.

Interest Expense $?$

Premium on Bonds Payable $($Debit$)71802$

Cash $?$