On January 1, Mertle Company issues $500,000, 5-year 12% bonds at 96% with interest paid semiannually on June 30 and Decemb 31. What is the carrying value of Mertle's bond after the first semiannual joumal entry? $482,000 $500,000 $498,000 $480,000 Question 24 2 2F A premium on a bond will: O decrease the bond's interest expense over its life O increase the bond's interest expense over its life all of these statements are true have no effect on the bond's interest expense