DEF Corporation issued 10-year, $500,000 bonds with a coupon rate of 6% payable semi-annually. The market interest rate at the time of issuance was 7%. Requirements: a. Calculate the issue price of the bond. b. Prepare the journal entry to record the issuance of the bond. c. Determine the total cash interest payment for the first interest period. d. Calculate the carrying value of the bond at the end of the first interest period. e. Analyze the impact of the bond issuance on the income statement and balance sheet.