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[The following information applies to the questions displayed below.] On January 1 of this year, Olive Corporation issued bonds. Interest is payable once a
[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 End of Year 2 End of Year 3 End of Year 4 ? $ 3, 110 ? $ 130 ? 36, 460 ? ? ? 3,074 153 ? 36, 319 ? 36,000 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 $ 36,590 End of Year 1 $ 3,240 S 3,110 $ 130 $ 36,460 End of Year 2 $ 36,319 End of Year 3 End of Year 4 $ 153 $ 3,074 $ 10 36,000
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