Save Answer The long-term liability section of Norman Corporation's balance sheet as of December 31, 2020, included 6% bonds having a face amount of $360,000 and a remaining discount of $20,000. Disclosure notes indicate the bonds were issued to yield 8%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2021, Norman retired the bonds at 103 before their scheduled maturity. What is the amount of loss on early extinguishment of bonds? W $29,400 $28,500 $30,800 $28,000