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On January $1,2024,$ White Water issues $$550,000$ of $5\%$ bonds, due in $15$ years, with interest payable annually on December $31$ each year.

Assuming the market interest rate on the issue date is $6\%,$ the bonds will issue at $$496,585.$

Required:

Complete the first three rows of an amortization schedule. $($Hint$.$ Use Illustration $9-6,$ except the dates for the first three rows will be $\frac{1}{1}\frac{?}{2024},\frac{12}{31}\frac{?}{2024},$ and $12/31/2025$ since interest is payable annually rather than semiannually. Interest expense for the period ended December $31,2024,$ is calculated as the carrying value of $$496,585$ times the market rate of $6\%.)($Round your final answers to the nearest whole dollar.$)$

$\backslash$table$[[$Date$,$Cash Paid,Interest Expense,$\backslash$table$[[$Change in$],[$Carrying Value$]],$Carrying Value$],[\frac{01}{01}\frac{?}{2024},,,,],[\frac{12}{31}\frac{?}{2024},,,,],[\frac{12}{31}\frac{?}{2025},,,,]]$