I am confused on this problem. I understand that the bond will be issued at a discount because the yield of the bond is less than the market value. However, I am confused on what the rate should be; market or bond rate. AS well as the part b just confuses me for how I am supposed to input it.

Analyzing and Reporting Financial Statement Effects of Bond Transactions OnJanuary1 of the current year, Banek Inc. issued $315,000 of 8%, nine-year bonds for $278,178, which implies a market (yield) rate of 10%. Semiannual interest is payable onJune 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. Answer = 3 [7. Indicate the financial statement effects using the template for (1) bond issuance, (2) semiannual interest payment and discount amortization on June 30 of the current year, and (3) semiannual interest payment and discount 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. b. Indicate the nancial statement effects using the template for (1) bond issuance, (2) semiannual interest payment and discount amortization on June 30 of the current year, and (3) semiannual interest payment and discount 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. Balance Sheet Income Statement Cash Asset Noncash Assets Liabilities Contrib. Capital Earned Capital Revenues Expenses Net Income 0 0 0 0 0 0 0 A A A A A A A v v v v v v v A A A A A A A v . v v v v v v Please answer all parts of the