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Required information

Exercise $9-20($Algo$)$ Record the early retirement of bonds issued at a

premium $($LO$9-6)$

$[$The following information applies to the questions displayed below.$]$

On January $1,2024,$ White Water issues $$490,000$ of $8\%$ bonds, due in $15$ years, with

interest payable semiannually on June $30$ and December $31$ each year. The market

interest rate on the issue date is $7\%$ and the bonds issued at $$535,061.$

Exercise $9-20($Algo$)$ Part $1$

Required:

Using an amortization schedule, show that the bonds have a carrying value of $$529,343$ on December

$31,2026.($Round your final answers to the nearest whole dollar.$)$