The questions below is based on the following information:

To finance a general government construction project Nathan Township issued $10,000,000 face value general obligation bonds $9,900,000. The township also incurred issuance costs equal to 2% of the face value. A Debt Service Fund will be used to account for repayment of the debt.

At the date of issue the Township's General Long-Term Liability accounts would reflect total liabilities for bonds payable liability of

a.$9,700,000

b.$9,900,000

c.$10,000,000

d.$10,100,000