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Presented here is a partial amortization schedule for Sheridan Company who sold $294000, five year 8% bonds on January 1, 2017 for $305760 and uses

Presented here is a partial amortization schedule for Sheridan Company who sold $294000, five year 8% bonds on January 1, 2017 for $305760 and uses annual straight-line amortization.

Presented here is a partial amortization schedule for Sheridan Company who sold $294000, five year 8% bonds on January 1, 2017 for $305760 and uses annual straight-line amortization.
BOND AMORTIZATION SCHEDULE
Interest Period Interest Paid Interest Expense Premium Amortization Unamortized Premium Bond Carrying Value
January 1, 2017 $11760 $305760
January 1, 2018 (i) (ii) (iii) (iv) (v)
Which of the following amounts should be shown in cell (i)?

$23520

A. $23520

B. $25402

C. $5880

D. $24461

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