(Solved): please answer correctly Required information [The following information applies to the questions di ...

Required information [The following information applies to the questions displayed below.] On January 1,2024 , White Water issues $\$550,000$ of $5\%$ bonds, due in 15 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is $6\%$, the bonds will issue at $\$496,585$. Required: 1. Complete the first three rows of an amortization schedule. (Hint: Use Illustration 9-6, 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 $\$496,585$ times the market rate of $6\%$.) (Round your final answers to the nearest whole dollar.)