According to this site, at 35 C, sound travels at 353M/sec = 1157 ft/sec.
So, assuming an average velocity of 457 M/sec (1500ft/sec) over 500 meters, the bullet would arrive ahead of the report.
That assumption is based on an AK muzzle velocity of approx 2000ft/sec and a velocity at 500 meters of 1000fr/sec.