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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
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 Cash Interest Amortization Balance January 1, Year 1 $ 65,094 End of Year 1 $ 4,544 $ 4,296 $ 248 64.846 End of Year 2 2 64,582 End of Year 3 End of Year 4 2 282 " 4,244 64,000 Required: 1. Complete the amortization schedule. (Enter all your values in positive. Round your final answers to nearest whole dollar amount.) Date January 1, Year 1 Cash Amortization Interest Balance S 05.004 End of Year 1 $ 4,544 $ 4,200 $ 248 $ 64.840 End of Year 2 S 64,582 End of Year 3 $ 282 End of Year 4 $ 4,244 $ 64.000
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