Required information Exercise 9-17B Record the early retirement of bonds issued at a premium (LO9-6) [The following information applies to the questions displayed below.] On January 1, Year 1, a company issues $560,000 of 7% 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 6% and the bonds issued at $624,721. Exercise 9-17B Part 1 Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $619,169 on December 31, Year 6. (Round your interest expense to the nearest whole dollar.) Answer is complete but not entirely correct. Date Cash Paid Interest Expense Decrease in Carrying Value Carrying Value 01/01/Year 1 $ 624,721 06/30/Year 1 $ 19,600 $ 18,742 $ 858 625,579 X 12/31/Year 1 19,600 18,767 x 833 626,412 x 06/30/Year 19,600 18,792 X 808 627,220 2 12/31/Year 19,600 18,817 x 783 X 628,003 2 06/30/Year 19,600 18,840 x 760 X 628,763 6 12/31/Year 19,600 18,863 x 737 X 629,500 6