DEF Manufacturing Company issued $500,000 of 5% bonds payable at 98 on January 1, 2024. The bonds mature in 5 years and pay interest semi-annually on June 30 and December 31. Requirements: a. Record the issuance of bonds payable by DEF Manufacturing Company. b. Calculate the total cash received from the issuance. c. Determine the premium or discount on issuance. d. Prepare the journal entry to record the interest expense on June 30, 2024. e. Calculate the carrying value of the bonds payable at the end of the first year.