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What amount should be recorded as bond issue costs

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Reference no: EM132765201

Question - During the current year, GLOBE Company incurred the following costs in connection with the issuance of bonds:

Promotion cost 400,000

Printing and engraving 300,000

Legal fees 1,600,000

Fees paid to independent accountants for registration 200,000

Commissions paid to underwriter 3,000,000

Required - What amount should be recorded as bond issue costs to be amortized over the term of the bonds?

a. P5,100,000

b. P5,500,000

c. P3,000,000

d. P2,100,000

Reference no: EM132765201

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