Recently went into my Akuma spinning reel and discovered 2 small bearings - one on top of the other - directly underneath my drag washers. Since the spool stays stationary during retrieve I’m assuming they have no affect on retrieve smoothness, correct? They would only come into play if the drag is being pulled?

Yes, they are to make the drag smoother when under heavy load. Not really matters much for reels under 4000 size IMO.

My bearings are frozen so I think they are just acting as bushing. Unfortunately they are not on the schematic so I can’t order replacements. 

1 hour ago, wasabi_VA said:

My bearings are frozen so I think they are just acting as bushing. Unfortunately they are not on the schematic so I can’t order replacements. 

Just measure them and buy new ones if that is what you want to do.. The sequence goes like this when you order. Inside diameter x outside diameter x thickness. Usually in mm.