On the first day of the fiscal year, a company issues a $4,000,000, 6%, five-year bond that pays semi annual interest of $120,000 ($4,000,000 × 6% × ½), receiving cash of $4,175,041.
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.