Grocery Corporation received $330,510 for 10.00 percent bonds issued on January 1, 2021, at a market interest rate of 7.00 percent. The bonds had a total face value of $273,000, 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) Answer is complete but not entirely correct. No Date 1 January 01 Debit General Journal Cash Premium on Bonds Payable Bonds Payable Credit 330,510 2 December 31 57.510 273,000 Interest Expense Premium on Bonds Payable Cash 23,1363 164 27,300