Reporting the bond liability

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Reference no: EM13127102

On December 31 year 1 Todd Corporation issued 500 of its 10% $1,000 bonds at 105. Todd Corporation uses IFRS. The bonds were issued through an underwriter to whom Todd paid bond issue costs of $15,000. On December 31 Year 1 balance sheet Todd should report the bond liability at:

A) $500,000

B) $510,000

C) $515,000

D) $525,000

Reference no: EM13127102

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