1) On January 1, 2015, White Water issues $430,000 of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.

Assuming the market interest rate on the issue date is 4%, the bonds will issue at $478,152.

Required:

1.	Complete the first three rows of an amortization table.

Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value

1/1/15

6/30/15

12/31/15