On January 2,2015 , Central Co. issued 9% bonds in the amount of $500,000, which mature on January 2,2025 . The bonds were issued for $469,500 to yield 10%. Interest is payable annually on December 31 . Central uses the effective interest method of amortizing bond discount. In its Dec 31, 2015 balance sheet, what amount should the Central report as bonds payable? a. $470,475 b. $471,450 c. $500,000 d. $469,500