The following amortization and interest schedule reflects the issuance of 10-year bonds by Monty 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 Value Cash Interest Interest 1/1/2011 2011 2012 2013 $14,047 14,047 14,047 14,047 14,047 14,047 14,047 14,047 14,047 14,047 Amount Unamortized na $7,215 6,804 6,343 5,827 5,249 4,602 3,877 3,065 2,156 1,138 $14,458 14,508 14,563 14,625 14,694 14,772 14,859 14,956 15,065 15,185 2016 2017 2018 2019 2020 $ 120,485 120,896 121,357 121,873 122,451 123,098 123,823 124,635 125,544 126,562 127,700 (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.) Date Account Titles and Explanation Debit Credit 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.) Date Account Titles and Explanation Debit Credit December 31, 2011 (f) On the basis of the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2018. Monty 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