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Question(s) / Instruction(s):

The following partial amortization schedule is available for Courtney Company who sold $200,000, five-year, and 10% bonds on January 1, 2010 for $208,000 and uses annual straight-line amortization.

BOND AMORTIZATION SCHEDULE

Interest                    Interest             Interest            Premium         Unamortized                   Bond

Periods                    to be paid        expense         Amortization         Premium                Carrying Value

January 1, 2010                                                                                               $8,000          $208,000

January 1, 2011           (I)                      (II)                       (III)                          (IV)                              (V)

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

A.            $7,200

B.            $9,600

C.            $8,800

D.            $6,400

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