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Banks Billiard Company (BBC) issued $5 million in bonds with a $100,000 premium. BBC incurred $200,000 in accounting fees and $50,000 in banking fees related to this transaction. What amounts should BBC record for the bonds upon issuance using US GAAP and IFRS?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M960826

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