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The following amortization and interest schedule reflects the issuance of 10-year bonds by Grouper Corporation on January 1, 2011, and the subsequent interest payments and

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The following amortization and interest schedule reflects the issuance of 10-year bonds by Grouper Corporation on January 1, 2011, and the subsequent interest payments and charges. The company's year-end is December 31, and financial statements are prepared once yearly. Amortization Schedule Carrying Cash Interest Amount Unamortized $13,771 1/1/2011 2011 $ 229,929 230,713 $27,591 2012 12,108 11,124 10,022 2015 8,788 $26,807 26,807 26,807 26,807 26,807 26,807 26,807 26,807 26,807 26,807 27,791 27,909 28,041 28,189 28,355 28,541 28,749 28,989 2017 7,406 5,858 4,124 2,182 232,576 233,678 234,912 236,294 237,842 239,576 241,518 243,700 2019 2020 (a) Indicate whether the bonds were issued at a premium or a discount. (b) 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 o 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, 2011. (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, 2011 (e) On the basis of the schedule above, prepare the journal entry to reflect the bond transactions and accruals for 2011. (Interest is paid January 1.) (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 December 31, 2011 (f) On the basis of the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2018. Grouper 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

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