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The following amortization and interest schedule reflects the issuance of 10-year bonds by Carla Corporation on January 1, 2014, and the subsequent interest payments and charges. The company's year-end is December 31, and financial statements are prepared once yearly Year 1/1/2014 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Amortization Schedule Amount Cash Interest Unamortized $23,50B $12,881 $14,039 22,350 12,881 14,213 21,018 12,881 14,412 19,487 12,881 14,642 17.726 12,881 14,906 15,701 12,881 15.210 13,372 12,881 15,559 10,694 12,881 15,961 7.614 12,881 16,423 4,072 12,881 16,953 Carrying Value $ 93,592 94,750 96,082 97,613 99.374 101,399 103,728 106,406 109,486 113,028 117.100 (a) Indicate whether the bonds were issued at a premium or a discount. (6) Indicate whether the amortization schedule is based on the straight-line method or the effective interest method: (6) Indicate whether the amortization schedule is based on the straight-line method or the effective interest method. (c) Determine the stated interest rate and the effective interest rate. (Round answers to decimal places, es. 18%) The stated rate The effective rate (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 for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit January 1, Date Credit 2014 (e) On the basis of the schedule above, prepare the journal entry to reflect the bond transactions and accruals for 2014. (Interest is pald January 13 ( no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are le) 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 for the amounts. Credit account tities are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Credit December 31 2014 Debit in On the basis of the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2021. Carta Corporation does not use reversing entries. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Date Debit Credit
