Carla Vista Incorporated issued a $102,000, 5-year, zero-interest-bearing note to Flint Corp. on January 1, 2020, and received $62,000 cash. Carla Vista uses the effective interest method. Using (1) a financial calculator or (2) Excel function Rate, calculate the implicit interest rate. (Round answer to 2 decimal places, e.g. 52.25%.) Implicit interest rate eTextbook and Media List of Accounts % Prepare Carla Vista's journal entry for the January 1 issuance. (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 O for the amounts.) Date Account Titles and Explanation Jan. 1 eTextbook and Media List of Accounts Debit Credit Prepare Carla Vista's journal entry for the December 31 recognition of interest. (Round answers to 2 decimal places, e.g. 52.75. 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 Dec. 31 Debit Credit Prepare an effective interest amortization table for the note. (Round answers to 2 decimal places, e.g. 52.75.) Schedule of Discount Amortization Effective Interest Method Date Jan. 1 2020 Dec. 31 2020 $ Dec. 31 2021 Dec. 31 2022 Dec. 31 2023 Dec. 31 2024 Interest Expense $ $ $ Discount Amortized $ Carrying Amount