Required information The following information applies to the questions displayed below.) On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable annually December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $644,161. Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.) Dato Answer is complete but not entirely correct. Decrease in Interest Cash Paid Expense Carrying Carrying Value Value $ 644 161 $ 42,000 $ 38,650 $ (3,385) X 640,811 42,000 38,447 (3,553) 637 258 01/01/2021 12/31/2021 12/31/2022 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 View journal entry worksheet No Credit 1 Dato General Journal January 01, 2021 Bonds Payable Discount on Bonds Payable Cash Dublt 544,161 44.161 600,000 2 December 31 2021 Interest Expense Discount on Bonds Payable Cush 3 December 31 2022 Interest Expense Discount on Bonds Payable Cash