Question Content Area On the first day of the fiscal year, a company issues a $806,000, 8%, 10-year bond that pays semiannual interest of $32,240 ($806,000 x 8% x 1/2), receiving cash of $846,300. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method.

interest expense

premium on bond portable

cash