On January 1,Year 1,Krammer Company Issued Five-Year,$50,000,000,10% Percent Notes at 103.The

On January 1,Year 1,Krammer Company issued five-year,$50,000,000,10% percent notes at 103.The premium was $1,500,000.Interest is paid semiannually on June 30 and December 31.
Required:
A) Record the issuance of the bonds on January 1 , Year 1.
B) Record the journal entry required on December 31, Year 1, assuming the use of straight-line amortization.
C) Record the repayment of the loan principal on December 31, Year 5.