2) On January 1 2007 the Kings Corporation issued 10% bonds with a face value of

2) On January 1 2007 the Kings Corporation issued 10% bonds with a face value of $100000. The bonds are sold for $96000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31 2011. Kings records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 2007 is _______. 3). When the market rate of interest was 11% Welch Corporation issued $100000 8% 10-year bonds that pay interest semiannually. Using the straight-line method the amount of discount or premium to be amortized each interest period would be ________.