Converse corp sold 100000 bond at 95 and incurred 3000 of, Ask an Expert

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Converse corp sold 100,000 bond at 95 and incurred 3,000 of bond issuance costs. Which of the following statements is correct assuming converge reports under IFRS?

a) An asset is booked for 3,000

b) A debit to cash is booked for 100,000

c) The discount of 5,000 is amortized using the straight-line method over the life of the bond

d) The discount of 8,000 is amortized using the effective interest method over the life of the bond.

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