East Liberty Corp. received authorization on December 31, 2016,
to issue $7,000,000 face value of 6%, 10-year bonds. The interest
payment dates are June 30 and December 31. All the bonds were
issued at par, plus accrued interest, April 1, 2017. The bonds are
callable by East Liberty at any time at
REQUIRED: Prepare the journal entry to record issuance of the bonds on April 1, 2017.