In the New Testament, the Greek word monogenēs (μονογενής) appears 9 times and is translated as only or only begotten every time.  4 times it is used to describe the solitary physical descendant of a human being (Luke 7:12, 8:42, 9:38, and Hebrews 11:17).  The other 5 times it is used to describe Jesus as the only begotten Son of God (John 1:14, 1:18, 3:16, 3:18, and 1 John 4:9).  The emphasis appears consistent each time:  That which is begotten is of the same nature as that which begat it.

In Luke's Gospel (3:38) the lineage of Jesus is traced back to Adam, the Son of God.  Since we know from Genesis that Adam was formed by God from the dust of the Earth and that Adam was of a different nature than God who formed him and since there does not appear to be any record in Scripture of a begotten child that is different in nature from it's begetting parent we have what appears to be a distinction between a begotten son and a created son.

My question is:  Do Jehovah's Witnesses recognize this distinction between the only begotten Son of God and a created son? If not, how do they explain the consistent use of the term and, if so, how can they then affirm that Jesus was God's first creation since he is so clearly portrayed as begotten not made which then makes him of the same nature as God?