On January 1, a company issued and sold a $370,000, 5%, 10-year bond payable, and received proceeds of $366,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The carrying value of the bonds immediately after the first interest payment is:

Multiple Choice

$370,000.

$369,800.

$370,200.

$365,800.

$366,200.