MBTA Corporation issued bonds and received cash in full for the issue price. The bonds were dated and issued on January 1, 2014. The stated interest rate was payable at the end of each year. The bonds mature at the end of four years. The following schedule has been completed (amounts in thousands):

Date	Cash		Interest		Amortization				Balance
January 1, 2014										$	49,228
End of Year 2014	$	3,690	$	3,434		$	256				48,972
End of Year 2015		3,690		3428			262				48,710
End of Year 2016		3,690		3410			280				48,430
End of Year 2017		3,690		3390			300				48,000

a. What was the maturity amount of the bonds?

48,000

b. How much cash was received at the date of issuance (sale) of the bonds?

49,228

c. Was there a premium or a discount? If so, which and how much?

1,228

d. How much cash will be disbursed for interest each period and in total for the full life of the bond issue?

e. What is the stated rate of interest?

f. What is the effective rate of interest?

g.

What amount of interest expense should be reported on the income statement each year?

h.

How the bonds should be reported on the balance sheet at the end of each year (show the last year immediately before retirement of the bonds).

Balance Sheet:	2014	2015	2016	2017
Long-term liabilities
Bonds Payable	?	?	?	?