B Book Grocery Corporation received $301,001 for 13.50 percent bonds issued on January 1, 2021, at a market interest rate of 10.50 percent. The bonds had a total face value of $255,000, stated that interest would be paid each December 31, and stated that they mature in 10 years. Assume Grocery Corporation uses the effective-interest method to amortize the bond premium. Required: 1. & 2. Prepare the required journal entries to record the bond issuance and the first interest payment on December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole dollar.) Hint vint View transaction list Journal entry worksheet rences Record the issuance of bonds with a face value of $255,000 for $301,001. Note: Enter debits before credits. Date General Journal Debit Credit January 011 Cash Premium on Bonds Payable Bonds Payable