Problem 14-01 Your answer is partially correct. Try again. The following amortization and interest schedule reflects the issuance of 10-year bonds by Whispering 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 Amortization Schedule Amount Cash Interest Unamortized $28,218 $24,970 $26,578 26,610 24,970 26,771 24,809 24,970 26,987 22,792 24,970 27,229 20,533 24,970 27,500 18,003 24,970 27,804 15,169 24,970 28,144 11,995 24,970 28,525 8,440 24,970 28,951 4,459 24,970 29,429 Carrying Value $ 221,482 223,090 224,891 226,908 229,167 231,697 234,531 237,705 241,260 245,241 249,700 2018 2020 2021 2022 2023 (c) Determine the stated interest rate and the effective interest rate. (Round answers to 0 decimal places, e.g. 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 o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation January 1, 2014 x= x Debit Credit Date Account Titles and Explanation December 31, 2014 (f) On the basis of the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2021. Whispering Corporation does not use reversing entries. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit