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Grocery Corporation received $330,361 for 11.00 percent bonds issued on January 1, 2018, at a market interest rate of 8.00 percent. The bonds had a total face value of $275,000, 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 Journal entry worksheet 2 Record the issuance of bonds for $330,361 with a face value of $275,000 Note: Enter debits before credits. General Journal Debit Date Credit January 01 Record entry Clear entry View general journal Grocery Corporation received $330,361 for 11.00 percent bonds issued on January 1, 2018, at a market interest rate of 8.00 percent. The bonds had a total face value of $275,000, 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 Journal entry worksheet Record the interest payment on December 31. Note: Enter debits before credits. Debit Credit General Journal Date December 31 Clear entry Record entry View general journal

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