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On January 1, the Kings Corporation issued 10% bonds with a face value of $118,000. The bonds are sold for $115,640. The bonds pay interest

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On January 1, the Kings Corporation issued 10% bonds with a face value of $118,000. The bonds are sold for $115,640. 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. $2,360 $11,800 $12,036 $11,564

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