Grocery Corporation received $300,328 for 11 percent bonds issued on January 1, 2021, at a market interest rate of 8 percent. The bonds had a total face value of $250,000, stated that interest would be paid each December 31, and stated that they mature in 10 years. Assume Grocery Corporation accounts for the bond using the shortcut approach. 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.) View transaction list Journal entry worksheet Record the issuance of bonds for $300,328 with a face value of $250,000. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal Journal entry worksheet Record the interest payment on December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal