Grocery Corporation received $$330,361$ for $11\mathrm{.}00$ percent bonds issued on January $1,2021,$ at a market interest rate of $8\mathrm{.}00$

percent. The bonds had a total face value of $$275,000,$ 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:

& $2.$ 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.$)$

Journal entry worksheet

$12$

Record the issuance of bonds with a face value of $$275,000$ for $$330,361.$

Note: Enter debits before credits.