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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

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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: Date January 1, Year 1 Cash Interest Amortization Balance $ 36, 590 End of Year 1 $ 3,240 $ 3, 110 $ 130 36, 460 End of Year 2 End of Year 3 End of Year 4 ? ? ? 36, 319 ? ? 153 ? ? 3,074 ? 36,000

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