Presented here is a partial amortization schedule for Graceland Company who sold $100,000, five year 10 bonds on January 1, 2016 for $108,000 and uses annual straight line amortization BOND AMORTIZATION SCHEDULE Interest Period Interest Paid Interest Expense Premium Amortization Unamortized Premium Bond Carrying Value January 1, 2016 $8,000 $108,000 January 1, 2017 (i) (ii) (iii) (iv) (v) Which of the following amounts should be shown in cell (v)

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Question: Presented here is a partial amortization schedule for Graceland Company who sold $100,000, five year 10% bonds on January 1, 2016 for $108,000 and uses

Presented here is a partial amortization schedule for Graceland Company who sold $100,000, five year 10% bonds on January 1, 2016 for $108,000 and uses annual straight-line amortization.

	BOND AMORTIZATION SCHEDULE
Interest Period	Interest Paid	Interest Expense	Premium Amortization	Unamortized Premium	Bond Carrying Value
January 1, 2016				$8,000	$108,000
January 1, 2017	(i)	(ii)	(iii)	(iv)	(v)

Which of the following amounts should be shown in cell (v)?

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