On April 1, 2019, Austin Corporation issued $300,000 of 10% bonds at 105. Each $1,000 bond was sold

with 25 detachable stock warrants, each permitting the investor to purchase one share of common stock

for $17. On that date, the market value of the common stock was $15 per share and the market value of

each warrant was $2. Austin should record what amount of the proceeds from the bond issue as an

increase in liabilities