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On January 1, a company issued and sold a $360,000, 4%, 10-year bond payable, and...

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Accounting

On January 1, a company issued and sold a $360,000, 4%, 10-year bond payable, and received proceeds of $350,000. 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:

a. $360,000

b. $360500

c. $349500

d. $359500

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