Hancock Co.'s December 31, Year 1, balance sheet contained the following items in the long-term liabilities section: Unsecured | | 9.375% registered bonds ($25,000 maturing annually beginning in Year 5) | $275,000 | 11.5% convertible bonds, callable beginning in Year 10, due Year 21 | 125,000 | Secured | | 9.875 % guaranty security bonds, due Year 21 | $50,000 | 10.0% commodity backed bonds ($50,000 maturing annually beginning in Year 6) | 200,000 |
What are the total amounts of serial bonds and debenture bonds?
| | Serial
bonds
| Debenture
bonds
|
|---|
|
a. | $200,000 | $650,000 | |
b. | $450,000 | $400,000 | |
c. | $475,000 | $125,000 | |
d. | $475,000 | $400,000 |
|
