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On January $1,2024,$ White Water issues $$450,000$ 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 $$402,327.$

Exercise $9-17($Algo$)$ Part $1$

Required:

$1.$ Complete the first three rows of an amortization schedule. $($Hint: Use Illustration $96,$ except the dates for the first three rows will be $1/1/2024,12/31/2024,$ and $12/31/2025$ since interest is payable annually rather than semiannually. Interest expense for the period ended December $31,2024,$ is calculated as the carrying value of $$402,327$ times the market rate of $7\%.)($Round your final answers to the nearest whole dollar.$)$