The following amortization and interest schedule reflects the issuance of 10-year bonds by Sheffield 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 Year Cash Interest Amount Unamortized Carrying Value 1/1/2014 $37,581 $ 149,619 2014 $20,592 $22,443 35,730 151,470 2015 20,592 22,721 33,601 153,599 2016 20,592 23,040 31,153 156,047 2017 20,592 23,407 28,338 158,862 162,099 2018 20,592 23,829 2019 20,592 24,315 25,101 21,378 17,097 165,822 2020 20,592 24,873 170,103 175,026 2021 20,592 25,515 12,174 2022 20,592 26,254 6,512 180,688 2023 20,592 27,104 187,200 (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 0 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, 2014. (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, 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 O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (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.) Date Account Titles and Explanation Debit Credit December 31, 2014 (f) On the basis of the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2021. Sheffield 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