Analyzing and Reporting Financial Statement Effects of Bond Transactions

On January $1$ of the current year, Shields Inc. issued $$400,000$ of $9\%,20-$year bonds for $$439,586,$ yielding a market $($yield$)$ rate of $8\%.$ Semiannual interest is payable on June $30$ and December $31$ of each year.

a$.$ Show Excel inputs to confirm the bond issue price.

Note: Round your answer to two decimal places.

b$.$ Indicate the financial statement effects using the template for $(1)$ bond issuance, $(2)$ semiannual interest payment and premium amortization on June $30$ of the current year, and $(3)$ semiannual interest payment

and premium amortization on December $31$ of the current year.

Note: For each account category, indicate the appropriate account name. Enter $"$N$/$A$"$ for any account category that is not used for a given transaction.

Note: Indicate a decrease in an account category by including a negative sign with the amount.

Note: Round your answers to the nearest whole dollar.