The following amortization and interest schedule reflects the issuance of 10-year bonds by Sheridan Corporation on January 1, 2014, and the subsequent interest payments and charges. The companys year-end is December 31, and financial statements are prepared once yearly.

Amortization Schedule
Year		Cash		Interest		Amount Unamortized		Carrying Value
1/1/2014						$10,227		$ 170,773
2014		$19,910		$20,493		9,644		171,356
2015		19,910		20,563		8,991		172,009
2016		19,910		20,641		8,260		172,740
2017		19,910		20,729		7,441		173,559
2018		19,910		20,827		6,524		174,476
2019		19,910		20,937		5,497		175,503
2020		19,910		21,060		4,347		176,653
2021		19,910		21,198		3,059		177,941
2022		19,910		21,353		1,616		179,384
2023		19,910		21,526				181,000

a.) Determine the stated interest rate and the effective-interest rate.

b.) On the basis of the schedule above, prepare the journal entry to record the issuance of the bonds on January 1, 2014

c.) 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.)

d.) On the basis of the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2021. Sheridan Corporation does not use reversing entries.