On January 1, 2015, White Water issues $200,000 of 7% bonds, due in 10 years, with interest payable semi-annually on June 30 and December 31 each year.

Required:
Assuming the market interest rate on the issue date is 6%, the bonds will issue at $214,877.
1. Complete the first three rows of an amortization table.
2. Record the bond issue on January 1, 2015, and the first two semi-annual interest payments on June 30, 2015, and December 31, 2015.