The following amortization and interest schedule is for the issuance of 10-year bonds by Marigold Corporation on January 1, 2020, and the subsequent interest payments and charges. The companys year end is December 31 and it prepares its financial statements yearly.

Amortization Schedule
							Amount			Carrying
Year			Cash		Interest		Unamortized			Amount
Jan. 1,	2020						$5,961			$91,039
Dec. 31,	2020		$8,730		$9,104		5,587			91,413
	2021		8,730		9,141		5,176			91,824
	2022		8,730		9,182		4,724			92,276
	2023		8,730		9,228		4,226			92,774
	2024		8,730		9,277		3,679			93,321
	2025		8,730		9,332		3,077			93,923
	2026		8,730		9,392		2,415			94,585
	2027		8,730		9,459		1,686			95,314
	2028		8,730		9,531		885			96,115
	2029		8,730		9,615		0			$97,000

Determine the stated interest rate and the effective interest rate. (Round answers to 0 decimal places, e.g. 15%.)

Stated Interest Rate		%
Effective Interest Rate		%

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List of Accounts

Based on the schedule above, prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2020

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List of Accounts

Based on the schedule above, prepare the journal entry to reflect the bond transactions and accruals for 2020. (Interest is paid January 1.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2020

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List of Accounts

Based on the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2028. Marigold Corporation does not use reversing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)