On january 1 2007 the horton corporation issued 10 bonds, Ask an Expert

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On january 1, 2007, the Horton Corporation 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 December 31, 2011. Horton records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31, 2007, is?

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Category:- Accounting Basics
Reference No.:- M9978488

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