A bond issue with a $100,000 par value, an 8% annual contract rate, with interest payable semiannually and a 10-year life means that the issuer must repay $100,000 at the end of 10 years plus make 20 payments of $4,000. True or False True False Seved Help Save & Exit Sub TB 14-90 Tulilo Corp Tulio Corp issues $750,000, 10%, 15-year bonds. The current market rate is 10%. The journal entry to record the semiannual interest payment, assuming the effective interest method is used, is Multiple Choice Bond Interest Expense Cash 25.000 O Bond Interest Expense Bond Payable 13.750 O 12.500 O