Grocery Corporation received $$301,232$ for $14\mathrm{.}00$ percent bonds issued on January $1,2021,$ at a market interest rate of $11\mathrm{.}00$ percent. The bonds had a total face value of $$256,000,$ stated that interest would be paid each December $31,$ and stated that they mature in $10$ years. Assume Grocery Corporation uses the straight$-$line method to amortize the bond premium.

Required:

& $2.$ 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.$)$

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$\backslash$table$[[,$No$,$Date,General Journal,Debit,Credit$],[0,1,$January $01,$Cash,$301,232,],[,,$Premium on Bonds Payable,,$45,232],[,,$Bonds Payable,,$256,000],[,,,,,],[r,2,$December $31,$Interest Expense,,$],[,,$Premium on Bonds Payable,$4,523,],[,,$Cash,,$]]$