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I got a question about Bond issue cost
If Bond payable 100
Bic 10
Issued at 110
How would it be journalized?Cash 110 / bp 90
/ pre 20 or,Cash 110 / bp 100
/ pre 10 or,Cash 110 / bp 100
/ cash 10Also, in reconciliation from Gov fund to Gov wide, how would Bond Issue Cost be adjusted? As far as I know, in gov fund BIC is expenditure, but in gov wide is BIC an asset like the old GAAP? Or a deduction from Bond like the rule?
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