Question: Billy Bob Co . issued a 1 5 - year bond worth $ 1 0 , 0 0 0 , 0 0 0 . The

Billy Bob Co. issued a 15-year bond worth $10,000,000. The state interest rate is12%. This bond pays interest semiannually every June 30 and December 31.
a. If the market rate of interest is 14%, what would the issue price of the bond
be? Create a journal entry to reflect the issuance of the bond.
b. If the market rate of interest is 10%, what would the issue price of the bondf the bond.
be? Create a journal entry to reflect the issuance o
Billy Bob Co. issued a 15-year bond worth $10,000,000. The state

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