The Following Partial Amortization Schedule Is Available for Courtney Company

question 80

Multiple Choice

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 (iv) ?

• A) $22,000
• B) $18,000
• C) $24,000
• D) $16,000

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Definitions:

Neptune

The eighth planet from the Sun in our solar system, known for its deep blue color and strong winds.

Genus

A term that denotes a general category or class under which species and individuals are subsumed, often used in hierarchical classification.

Species

A class of things regarded as a subcategory of a wider class (a genus).

Box

A container often made of cardboard or wood, used for storage or shipping.