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Required information [The following information applies to the questions displayed below.] On January 1, 2021, White Water issues $500,000 of 6% bonds, due in
Required information [The following information applies to the questions displayed below.] On January 1, 2021, White Water issues $500,000 of 6% bonds, due in 20 years, with Interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 5% and the bonds issued at $562,757. Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $556,810 on December 31, 2023. (Round your interest expense to the nearest whole dollar.) Date 01/01/2021 Cash Paid Interest Expense Decrease in Carrying Value Carrying Value 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023
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