Business, 21.11.2019 05:31 lalllda

The city of dylan issues a 10-year bond payable of $1 million at face value on the first day of year 1. debt issuance costs of $10,000 are paid on that day. for government-wide financial statements, how is this debt issuance cost reported?

a. $10,000 is recorded as an asset.

b. $10,000 is recorded as an expense.

c. $1,000 is recorded as an expense and $9,000 is recorded as an asset.

d. $1,000 is recorded as an expense and $9,000 is recorded as a deferred outflow of resources.

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The city of dylan issues a 10-year bond payable of $1 million at face value on the first day of year...

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