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Alphabet Inc. issued 5-year bonds with a face value of $500,000 on January 1st, 2023, with a stated interest rate of 6% payable annually. The

Alphabet Inc. issued 5-year bonds with a face value of $500,000 on January 1st, 2023, with a stated interest rate of 6% payable annually. The market interest rate at the time of issuance was 7%. Calculate: a) The issue price of the bonds. b) The total interest expense over the life of the bonds. c) The carrying amount of the bonds after two interest payments. d) The journal entry to record the first interest payment.

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