The following amortization and interest schedule reflects the issuance of 10-year bonds by Flint 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 Amortization Schedule Carrying Value Year Cash Interest Amount Unamortized $ 16,510 1/1/2014 $ 129,590 2014 $ 14,610 $ 15,551 15,569 130,531 2015 14,610 15,664 14,515 131,585 2016 14,610 15,790 13,335 132.765 2017 14.610 15,932 12,013 134,087 2018 14,610 16,090 10.533 135.567 2019 14,610 16,268 8.875 137.225 2020 14,610 16,467 7,018 139,082 2021 14,610 16,690 4,938 141.162 2022 14.610 16,939 2,609 143.491 2023 14,610 17.219 146,100 (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 decimal places, eg. 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. Of 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 Credit Date January 1 2014 (e) 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 titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Date December 31 2014 (f) On the basis of the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2021. Flint Corporation does not use reversing entries. Of 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) Debit Credit Date Account Titles and Explanation e Textbook and Media