Required: 1. Complete the first three rows of an amortization schedule. (Hint. Use Illustration 9-6, except...
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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 $375,505 times the market rate of 7%.) (Round your final answers to the nearest whole dollar.) Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2024 12/31/2024 12/31/2025 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 $375,505 times the market rate of 7%.) (Round your final answers to the nearest whole dollar.) Date Cash Paid Interest Expense Change in Carrying Value Carrying Value 01/01/2024 12/31/2024 12/31/2025
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