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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
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: Date Cash Interest Amortization January 1, Year 1 Balance $42,734 End of Year 1 End of Year 2 $ 2,562 ? $ 2,393 $169. 42,565 ? ? 42,387 End of Year 3 ? 188 ? End of Year 4 2,363 42,000 Required: 1. Complete the amortization schedule. (Enter all your values in positive. Round your final answers to nearest whole dollar an Date Cash Interest Amortization Balance January 1, Year 1 42,734 End of Year 1 $ 2,562 $ 2,393 $ 169 $ 42,565 End of Year 2 $ 42,387 End of Year 3 $ 188: End of Year 4 $ 2,363 $ 42,000
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