Grocery Corporation received $322,294 for 9.00 percent bonds issued on January 1, 2018, at a market interest rate of 6.00 percent. The bonds had a total face value of $264,000, 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. (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 View journal entry worksheet No Date General Journal Debit Credit January 01 Cash 322,294 Bonds Payable Premium on Bonds Payable 264,000 58,294 December 31 Interest Expense Premium on Bonds Payable Cash 19,338 23,760