Required information Exercise 9-16A Record the early retirement of bonds issued at a discount (LO9-6) [The following information applies to the questions displayed below.] On January 1, 2021, Splash City issues $440,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $393,019. On January 1, 2021, Splash City issues $440,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $393,019. Exercise 9-16A Part 1 Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $395,361 on December 31, 2022. (Round Interest expense to nearest whole dollar.) Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022