On january 1, a comapny issues bonds dated January 1 with par vaule of $200,000. The bonds mature in 3 years. The contracts rate is 4% and interest is paid semiannually on June 30 and December 31. The market rate is 5%. Using the present vaule factors, what is the issue (selling) price of the bonds? Record the journal entry for the issuance of this bond.