Reporting Financial Statement Effects of Bond Transactions On January 1, 2019, Shields, Inc., issued $800,000 of 9%, 20-year bonds for $879,172 yielding a market (yield) rate of 8%. Semiannual interest is payable on June 30 and December 31 of each year. a. Show computations to confirm the bond issue price. Round answers to the nearest whole number. Present value of principal repayment 166,632 Present value of interest payments 712.549 Selling price of bonds 879,172 b. Prepare journal entries to record the bond issuance, semiannual interest payment and premium amortization on June 30, 2019, and semiannual interest payment and premium amortization on December 31, 2019. Use the effective interest rate method. Round answers to the nearest whole number. General Journal Date Description Debit Credit 1/1/19 166,632 0 712,540 0 Bonds payable U 0 6/30/19 Interest expense 0 0 0 0 0 12/31/19 Interest expense 0 0 0 0 c. Post the journal entries from part b to their respective T-accounts. Cash Bond Payable 0 0 Interest Expense Bond Premium 0 0 0 0 . 0 0 12/31/19 Interest expense 0 0 0 0 0 c. Post the journal entries from part b to their respective T-accounts. Cash Bond Payable 0 0 0 Interest Expense Bond Premium 0 0 0 d. Record each of the transactions from part b in the financial statement effects template. Use rounded answers from above. When applicable, enter the total amount for liabilities. Balance Sheet Income Statement Transaction Cash Asset + Noncash Assets = Liabilities + Contr. Capital + Earned Capital Revenue - Expenses Net Income 1/1/19: Issue bonds 0 0 0 S 0 $ 0 $ $ 0 5 6/30/19: Interest payment on bonds 0 0 0 0 0 0 0 12/31/19: Interest payment on bonds 0 0 0 0 0 0 0 0 Please answer all parts of the question. $