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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 year

[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

$

54,860

End of Year 1

$

5,562

$

5,376

$

186

54,674

End of Year 2

?

?

?

54,470

End of Year 3

?

?

224

?

End of Year 4

?

5,316

?

54,000

Required:

1. Complete the amortization schedule. (Enter all your values in positive. Round your final answers to the nearest whole dollar amount.)

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