On January 1,2019 , a $1,000, one year 8% bond is sold for $1,009 at the time the market rate is 7%. What is the interest expense in 2019? $70 $71 $80 \$9 Question 7 ( 2 points) A corporation signed a 4 year note for $40,000 on August 1, 2019. $10,000 is due each year with the first payment due on August 1,2020. How will this be shown on the statement of financial position at December 31, 2019? $10,000 will be recorded as a non-current liability $30,000 will be recorded as a non-current liability $40,000 will be recorded as a non-current liability $40,000 will be recorded as a current liability