On the first day of the fiscal year, a company issues a $8,400,000, 10%, 8-year bond that pays semiannual interest of $420,000 ($8,400,000 × 10% × ½), receiving cash of $8,871,830. Journalize the...

On the first day of the fiscal year, a company issues a $8,400,000, 10%, 8-year bond that pays semiannual interest of $420,000 ($8,400,000 × 10% × ½), receiving cash of $8,871,830.

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.