Cort Inc. was authorized to issue $1,000,000 of 8 percent bonds. On April 1, 2022, the corporation issued bonds with a face value of $270,000 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.

Required: Using the data given above, give the adjusting entry that would be made by Cort Inc. on December 31, 2022, to record accrued interest and to amortize the