Illustrate what amounts should bbc record for the bonds

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Reference no: EM13130905

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?

Reference no: EM13130905

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