On the first day of the fiscal year, a company issues a $2,500,000, 4%, five-year bond that pays semiannual interest of $50,000 ($2,500,000 × 4% × ½), receiving cash of $2,400,000. journalize the first interest payment and the amortization of the related bond discount. round to the nearest dollar. if an amount box does not require an entry, leave it blank.