Required information [The following information applies to the questions displayed below.] On January 1,2024 , White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 8%, the bonds will isspe at $559,740. Required: 1. Complete the first three rows of an amortization schedule. (Hint. Use Illustration 9-6, except the dates for the first three rows will be 1/1/2024, 12/31/2024, 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 $559,740 times the market rate of 8% ) (Round your final answers to the nearest whole dollar.)