Required information [The following information applies to the questions displayed below.) On January 1, 2021. White Water issues $440,000 (face) 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 issue at $410,474 Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar) Date Cash Pald Interest Increase in Expense Carrying Value Carrying Value 01/01/2021 12/31/2021 12/31/2022 Journal entry worksheet Record the bond issue. Note: Enter debits before credits. Date General Journal Debit Credit January 01, 2021 Record entry Clear entry View general journal Journal entry worksheet Record the first annual interest payment. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal Journal entry worksheet Record the second annual interest payment. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2022 Record entry Clear entry View general journal