Required Information [The following information applies to the questions displayed below) On January 1, 2021, Splash City issues $500,000 of 9% 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 10% and the bonds Issued at $457,102. Required: 1. Using an arnortization schedule, show that the bonds have a carrying value of $458,633 on December 31, 2022 (Round Interest expense to nearest whole dollar.) Date Cash Paid Interest Increase in Expense Carrying Value Carrying Value 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 Required Information [The following information applles to the questions displayed below) On January 1, 2021. Splash City issues $500,000 of 9% 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 10% and the bonds issued at $457,102 2. If the market interest rate drops to 7% on December 31, 2022. It will cost $601,452 to retire the bonds. Record the retirement of the bonds on December 31, 2022 (if no entry is required for a porticular transaction/event, select "No Journal Entry Required" In the flrst account fleld. Round your intermediate calculations to the nearest whole dollar amount.) View transaction list Journal entry worksheet