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What is the carrying amount of the bonds on the january?

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McCabe Corporation issued $300,000 of 6.0?% 10?-year bonds. 

The bonds are dated and sold on January? 1, 2015. Interest payment dates are January 1 and July 1. 

The bonds are issued for $278,681 to yield the market interest rate of 7?%. 

On the first semiannual interest payment? date, July? 1, 2015, the company recorded $9,754 in interest expense and $754 in discount amortization. The interest payment is $9,000.

Using the? effective-interest method, what is the carrying amount of the bonds on the January? 1, 2016 balance? sheet?

Reference no: EM132421047

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