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! Required information (The following information applies to the questions displayed below.) On January 1, 2021. White Water issues $590,000 of 6% bonds, due in
! Required information (The following information applies to the questions displayed below.) On January 1, 2021. White Water issues $590,000 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 5%, the bonds will issue at $663,527 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 Decrease in Carrying Value Carrying Value 01/01/2021 12/31/2021 12/31/2022 1 Record the bond issue. 2 Record the first annual interest payment. 3 Record the second annual interest payment
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