Amortization Schedule
Year		Cash		Interest		Amount Unamortized		Carrying Value
1/1/2014						$54,103		$ 161,497
2014		$21,560		$24,225		51,438		164,162
2015		21,560		24,624		48,374		167,226
2016		21,560		25,084		44,850		170,750
2017		21,560		25,613		40,797		174,803
2018		21,560		26,220		36,137		179,463
2019		21,560		26,919		30,778		184,822
2020		21,560		27,723		24,615		190,985
2021		21,560		28,648		17,527		198,073
2022		21,560		29,711		9,376		206,224
2023		21,560		30,936				215,600

(c) Determine the stated interest rate and the effective-interest rate. (Round answers to 0 decimal places, e.g. 18%.) (d) On the basis of the schedule above, prepare the journal entry to record the issuance of the bonds on January 1, 2014. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (e) On the basis of the schedule above, prepare the journal entry to reflect the bond transactions and accruals for 2014. (Interest is paid January 1.) (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (f) On the basis of the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2021. Novak Corporation does not use reversing entries. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)