Required information [The following information applies to the questions displayed below.) On January 1, 2021, White Water issues $560,000 of 6% bonds, due in 20 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 7%, the bonds will issue at $500,674. Required: 1. Complete the first three rows of an amortization schedule. (Round your final answers to the nearest whole dollar.) Answer is complete but not entirely correct. Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 $ 500,674 12/31/2021 $ 16.000 $ 17,524 X $ 1,524 x 502,198 x 12/31/2022 16,000 X 17,577 X 1,577 503,775 X