Cort Inc. was authorized to issue $1,000,000 of 12 percent bonds. On April 1, 2019, the corporation issued bonds with a face value of $170,000 at a price of 101.6. The bonds mature 10 years from the date of issue. Interest is payable semiannually on October 1 and April 1. Prepare the general journal entry to record the April 1, 2019, bond issue.

• Record the issuance of bonds at a price of 101.6.