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I'm having trouble with this study question! Any help would be appreciated! McCabe Corporation issued $300,000 of 6.0% 10-year bonds. The bonds are dated and

I'm having trouble with this study question! Any help would be appreciated!

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?

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