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The following amortization and interest schedule reflects the issuance of 10-year bonds by Ping Inc. on January 1, 2011, and the subsequent interest payments and charges. The companys year-end is December 31, and financial statements are prepared once yearly.

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Accumulated Depreciation-Equipment Accumulated Depreciation-Machinery Allowance for Doubtful Accounts Bad Debt Expense Bond Issue Expense Bonds Payable Buildings Cash Common Stock Debt Investments Depreciation Expense Discount on Bonds Payable Discount on Notes Payable Discount on Notes Receivable Equipment Equity Investments Gain on Disposal of Machinery Gain on Disposal of Land Gain on Disposal of Plant Assets Gain on Redemption of Bonds Gain on Restructuring of Debt Gain on Sale of Machinery Interest Expense Interest Payable Interest Receivable Interest Revenue Land Loss on Disposal of Land Loss on Redemption of Bonds Machinery Mortgage Payable No Entry Notes Payable Notes Receivable Paid-in Capital in Excess of Par - Common Stock Paid-in Capital in Excess of Par - Preferred Stock Premium on Bonds Payable Sales Revenue Unamortized Bond Issue Costs Unearned Revenue Unearned Sales Revenue Unrealized Holding Gain or Loss - Income

Amortization Schedule Amount Unamortized Carrying Value Year Cash Interest $6,809 113,691 114,079 114,513 115,000 115,545 116,155 116,839 117,605 118,463 119,424 120,500 1/1/2011 2011 $13,255 2012 2013 2014 2015 2016 2017 2018 2019 2020 13,255 13,255 13,255 13,255 13,255 13,255 13,255 13,255 13,255 $13,643 13,689 13,742 13,800 13,865 13,939 14,021 14,113 14,216 14,331 6,421 5,987 5,500 4,955 4,345 3,661 2,895 2,037 1,076 (a) Indicate whether the bonds were issued at a premium or a discount. Discount (b) Indicate whether the amortization schedule is based on the straight-line method or the effective-interest method Effective interest method