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Required information [The following information applies to the questions displayed below.) On January 1, 2021, White Water issues $500,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year Assuming the market interest rate on the issue date is 7%, the bonds will issue at $447,030. Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.) Date Cash Paid externst carrying viatue Increase in Carrying Value Carrying Value Cavalling Expense 01/01/2021 12/31/2021 12/31/2022 Required information (The following information applies to the questions displayed below.) On January 1, 2021, White Water issues $500,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $447,030. 2. Record the bond issue on January 1, 2021, and the first two interest payments on December 31, 2021, and December 31, 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet 2 3 Record the bond issue. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general Journal