Question: Required information P10-10 (Algo) Preparing a Bond Amortization Schedule for a Bond Issued at a Premium LO10-5 [The following information applies to the questions displayed

 Required information P10-10 (Algo) Preparing a Bond Amortization Schedule for a

Required information P10-10 (Algo) Preparing a Bond Amortization Schedule for a Bond Issued at a Premium LO10-5 [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: Cash Interest Amortization $ 1,792 $ 1,661 $ 131 Date January 1, Year 1 End of Year 1 End of Year 2 End of Year 3 End of Year 4 Balance $ 32,566 32,435 32,297 145 ? 1,640 32,000 P10-10 Part 1 Required: 1. Complete the amortization schedule. (Enter all your values in positive. Round your final answers to nearest whole dollar amount.) Cash Interest Amortization Balance $ 32,566 $ 32,435 $ 32,297 $ 1,792 $ 1,661 $ Date January 1, Year 1 End of Year 1 End of Year 2 End of Year 3 End of Year 4 131 $ 145 $ 1,640 $ 32,000

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