Required information (The following information applies to the questions displayed below.) Part 1 of 2 7.69 points On January 1, 2021, Splash City issues $360,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 8% and the bonds issued at $335,537. Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $339,026 on December 31, 2022. (Round Interest expense to nearest whole dollar.) Answer is complete but not entirely correct. Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 06/30/2021 $ $ 12/31/2021 $ 12,600 12,600 12,600 12,600 2.237 X 2,306 X 2,375 % 2,443 10,363 X 10,294 X 10,225 10.157 X $ 335,537 345,900 X 356,194 X 366,419 376,576 X 06/30/2022 12/31/2022