On January 1, 20X2, Slidell Co. issued 500 of its 8%, $1,000 bonds at 97 plus accrued interest. The bonds are dated October 1, 20X1, and mature on October, 20X6. Interest is payable semiannually on April 1 and October 1. Accrued interest for the period October 1, 20X1 to January 1, 20X2 amounted to $10,000. On January 1, 20X2, what amount should Slidell report as bonds payable, net of discount?

options:

	$490,000
	$500,000
	$485,000
	$970,000