On January 1, 2016, Nichols Company issued for $1,085,800 its 20-year, 11% bonds that have a…

On January 1, 2016, Nichols Company issued for $1,085,800 its 20-year, 11% bonds that have a maturityvalue of $1,000,000 and pay interest semi-annually on January 1 and July 1. Bond issue costs were notmaterial in amount. Below are the three presentations in the non-current liability section of the statementof financial position that might be used for these bonds at the issue date.

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