Question: Apple Bin Co. (ABC) issued $4,000,000, 10-year bonds on June 30, Year 1. ABC classified the bonds as FVPL. How should ABC account for these bonds? A. Both initially and subsequently at fair value, with transaction costs expensed as incurred B. Both initially and subsequently at fair value, with transaction costs reducing the carrying value of the bonds at initial measurement C. Initially at amortized cost and subsequently at fair value with transaction costs reducing the carrying value of the bonds at initial measurement D. Initially at face value and subsequently at fair value, with transaction costs expensed as incurred