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Business, 05.05.2020 17:36 AeelynRamos

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 $ 30,532 End of Year 1 $ 1,650 $ 1,527 $ 123 30,409 End of Year 2 ? ? ? 30,279 End of Year 3 ? ? 136 ? End of Year 4 ? 1,507 ? 30,000

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