Question - Patton Corporation issued on 12/31/13 $100,000 of 6 year, 12% bonds at 107.732 Interest is paid on semiannual interest dates. Straight line method of amortization is to be used. What are the proceeds on the sale of this bond issue?
1] $100,000
2] $92.268
3] $100,773
4] $107,732