Grocery Corporation received $315,954 for 10.50 percent bonds issued on January 1,2021 , at a market interest rate of 7.50 percent. The bonds had a total face value of $262,000, 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: 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.) Journal entry worksheet Record the issuance of bonds for $315,954 with a face value of $262,000. Note: Enter debits before credits