The following partial amortization schedule is available for Courtney Company who sold $500,000, five-year, 10% bonds on January 1, 2014 for $520,000 and uses annual straight-line amortization. Which of the following amounts should be shown in cell (v)?
A) $524,000
B) $522,000
C) $516,000
D) $518,000

Question

The following partial amortization schedule is available for Courtney Company who sold $500,000, five-year, 10% bonds on January 1, 2014 for $520,000 and uses annual straight-line amortization.  Which of the following amounts should be shown in cell (v)?
A) $524,000 
B) $522,000 
C) $516,000 
D) $518,000

Quizplus · Accepted Answer

The Answer of The following partial amortization schedule is available for Courtney Company who sold $500,000, five-year, 10% bonds on January 1, 2014 for $520,000 and uses annual straight-line amortization.  Which of the following amounts should be shown in cell (v)?
A) $524,000 
B) $522,000 
C) $516,000 
D) $518,000

The Following Partial Amortization Schedule Is Available for Courtney Company