The printing costs and legal fees associated with the issuance of bonds should be expensed when incurred. be reported as a deduction from the face amount of bonds payable. be accumulated in a deferred charge account and amortized over the life of thebonds. not be reported as an expense until the period the bonds mature or are retired. The generally accepted method of accounting for gains or losses from the early extinguishment of debt treats any gain or loss as an adjustment to the cost basis of the asset obtained by the debt issue. The printing costs and legal fees associated with the issuance of bonds should be expensed when incurred. be reported as a deduction from the face amount of bonds payable. be accumulated in a deferred charge account and amortized over the life of thebonds. not be reported as an expense until the period the bonds mature or are retired. The generally accepted method of accounting for gains or losses from the early extinguishment of debt treats any gain or loss as an adjustment to the cost basis of the asset obtained by the debt issue