On January 1, 2017, Banek Inc. issued $350,000 of 8%, 9 year bonds for $309,086, which implies a market (yield) rate of 10%. Semiannual interest payable on June 30 and December 31 of each year.

A. Show computations to confirm the bond issue price

B. Inidicate the financial statement effects using the template for 1) bond insurance 2) semiannual interest payment and discount authorization on June 30, 2017 and 3) semiannual interest payment and discount amortization on December 31, 2017.