On jan 1 2007 the horton corp issued 10 bonds with a face

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On Jan 1, 2007, the Horton Corp issued 10% bonds with a face value of $200,000. The bonds are sold for $196,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is Dec 31, 2011. Horton records straight-line amortization of the bond discount. The bond interest expense for the year ended Dec 31, 2007 is?

Reference no: EM13595931

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