Alfred issued 9%, 10-year bonds dated January 1, 2010, with a face value of $100,000 at 102 plus accrued interest on March 1, 2010. Alfred amortizes premiums and discounts using the straight-line method. Expenses connected with the issue totaled $5,000 and were deducted in arriving at the net proceeds. The entry to record the issue would include a debit to cash for:
a) $97,000
b) $98,500
c) $102,000
d) $103,500