! Required information The following information applies to the questions displayed below) On January 1, 2021, 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: 1. Complete the first three rows of an amortization schedule (Round your final answers to the nearest whole dollar) Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 12/31/2021 12/31/2022 $ 27.500 5 27500 29,7955 29.795 2.295 2,433 On January 1, 2021. 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. 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 1 2 3 Record the bond issue Note: Enter debits before credit General Journal Debit Date January 01 2021 Credit