Grocery Corporation recelved $300,409 for 11.50 percent bonds issued on January 1, 2021, at a market interest rate of 8.50 percent. The honds had a total face value of $251,000, 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 premfum. Required: 1. \& 2 Prepare the required journal entries to record the bond issuance and the first interest payment on December 31 . (If no sntry is required for a transection/event, select "No Journal Entry Required" In the first account field. Round your onswers to the neareat whole dollar.) Journal entry worksheet 2 Recerd the iswance of bonds wath e froe value of 5251,000 for $300,409