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The following amortization and interest schedule is for the issuance of 10-year bonds by Monty Corporation on January 1, 2020, and the subsequent interest payments and charges

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The following amortization and interest schedule is for the issuance of 10-year bonds by Monty Corporation on January 1, 2020, and the subsequent interest payments and charges. The company's year end is December 31 and it prepares its financial statements yearly. 
Amortization Schedule 
Year 
Amount Carrying Cash Interest Unamortized Amount 
Jan. 1, 2020 $4,969 $94,031 Dec. 31, 2020 $13,860 $14,105 4,724 94,276 2021 13,860 14,141 4,443 94,557 2022 13,860 14,184 4,119 94,881 2023 13,860 14,232 3,747 95,253 2024 13,860 14,288 3,319 95,681 2025 13,860 14,352 2,827 96,173 2026 13,860 14,426 2,261 96,739 2027 13,860 14,511 1,610 97,390 2028 13,860 14,609 861 98,139 2029 13,860 14,721 0 $99,000 
Determine the stated interest rate and the effective interest rate. (Round answers to 0 decimal places, e.g. 15%.) 
Stated Interest Rate 
% 
Effective Interest Rate % 
eTextbook and Media 
List of Accounts 
Based on the schedule above, prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 
Date Account Titles and Explanation Debit Credit Jan. 1, 2020 
 

Based on the schedule above, prepare the journal entry to reflect the bond transactions and accruals for 2020. (Interest is paid January 1.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 
Date Account Titles and Explanation Debit Credit 
Dec. 31, 2020 
 

Based on the schedule above, prepare the journal entries to reflect the bond transactions and accruals for 2028. Monty Corporation does not use reversing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) 
Date Account Titles and Explanation Debit Credit