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On January 1, the Kings Corporation issued 10% bonds with a face value of $107,000. The bonds are sold for $104,860. The bonds pay interest

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On January 1, the Kings Corporation issued 10% bonds with a face value of $107,000. The bonds are sold for $104,860. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, ten years from now. Kings records straight-line amortization of the bond discount. Determine the bond interest expense for the year ended December 31 of the first year is. Select the correct answer. $10,700 $10,914 $10,486 $2,140

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