On January 1, 2009, Trueman Corporation issued \(\$ 600,000\) of 20 -year, \(11 \%\) bonds for \(\$ 554,860\), yielding a market (yield) rate of \(12 \%\). Interest is payable semiannually on June 30 and December 31.

(a) Confirm the bond issue price.

(b) Indicate the financial statement effects using the template for (1) bond issuance, (2) semiannual interest payment and discount amortization on June 30, 2009, and (3) semiannual interest payment and discount amortization on December 31, 2009.