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 Amortization Balance $ 54,860 54,674 54,470 Interest January 1, Year 1 End of Year 1 End of Year 2 End of Year 3 End of Year 4 $ 5,562 $ 5,376 $186 224 5,316 54,000 3 value: Required information 10.00 points Required 1. Complete the amortization schedule. (Enter all your values in positive. Round your final answers to nearest whole dollar amount.) Date Cash Interest Amortization Balance January 1, Year 1 End of Year 1 End of Year 2 End of Year 3 End of Year 4 $ 54,860 54,674 54,470 5,562 $ 5,376S 186 S S 224 5,316 54,000 value: Required information 10.00 points 2. When the bonds mature at the end of Year 4, what amount of principal will Olive pay investors? Principal amount References eBook & Resources Worksheet Difficulty: 2 Medium Learning Objective: 10-05 Report bonds payable and interest expense for bond securities issued at a premium. Check my work 5 value 10,.00 points 3. How much cash was received on the day the bonds were iss ued (sold)? Cash received 4. Were the bonds issued at a premium or a discount? If so, what was the amount of the premium or discount? 5. How much cash will be disbursed for interest each period and in total over the life of the bonds? Cash disbursed per period Cash disbursed in total 7. What was the annual market rate of interest on the date the bonds were issued? (Enter your answer as a percentage rounded to 1 decimal place (i.e. 0.123 should be entered as 12.3).) Market rate of interest 9. What amount will be reported on the balance sheet at the end of Year 2 and Year 3? Bonds Payable Year 2 Year 3