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Required information
[The following information applies to the questions displayed below.]
On January 1 of this year, Olive Corporation issued bonds. Interest is payable once a year on December 31. The bonds
mature at the end of four years. Olive uses the effective-interest amortization method. The partially completed
amortization schedule below pertains to the bonds:
What amount of interest expense will be reported on the income statement for 202 and 203?
Note: Round your final answers to nearest whole dollar amount.
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