Question: i need help solving please correct for the work you have completed so far. It does not indicate com Required Information Exercise 9-17A Record the

correct for the work you have completed so far. It does not indicate com Required Information Exercise 9-17A Record the early retirement of bonds issued at a premium (LO9-6) [The following information applies to the questions displayed below) On January 1, 2021, White Water Issues $540,000 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 6% and the bonds issued at $580,169 Exercise 9-17A Part 1 Required: 1. Using an amortization schedule, show that the bonds have a carrying value of $570,498 on December 31, 2023. (Round your Interest expense to the nearest whole dollar.) Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 Answer is complete but not entirely correct. Cash Interest Decrease in Carrying Carrying Paid Expense Value Value $ 580,169 $ 40,612 * $ 40,612 * $ 40,612 40,612 % 40,612 40,612 40,812 40,612 40,612 40,612 40,612 40,6123 40,612 40,612 40,612 40,612 40,612X 40,612 40,6123 40,6123 40,612 40,612 X 40,612 % 40,612 CA ! Required Information Exercise 9-17A Record the early retirement of bonds issued at a premium (LO9-6) (The following information applies to the questions displayed below.) On January 1, 2021, White Water issues $540,000 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 6% and the bonds issued at $580,169. Exercise 9-17A Part 2 2. If the market interest rate increases to 8% on December 31, 2023, it will cost $511,480 to retire the bonds. Record the retirement of the bonds on December 31, 2023. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your Intermediate and final answers to the nearest whole dollar) Answer is complete but not entirely correct. No Date General Journal Debit Credit 540,000 1 December 31, 202 Bonds Payable 80,169 O Premium on Bonds Payable Cash Gain 03 0
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