Billy Bob Co$.$ issued a $15-$year bond worth $$10,000,000.$ The state interest rate is$12\%.$ 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