Grocery Corporation received $321,981 for 12.00 percent bonds issued on January 1, 2021, at a market interest rate of 9.00 percent. The bonds had a total face value of $270,000, 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.