The business income coverage form covers consequential loss of business income that occurs when a business must suspend operations because of a direct loss. Which of the following terms best describes the nature of this type of coverage?

Time element
Claims made
Occurrence
Direct damage

On the first day of the fiscal year, a company issues an $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 × 8% × ½), receiving cash of $7,740,000. 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.