scount amortization InstructionsC Chart of Accounts Journal Instructions On January 1, the first day of the fiscal year, a company issues a $2,400,000, 4%, five-year bond that pays semiannual interest of $48,000 ($2,400,000 4% ), receiving cash of $2,353,000. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles