Iued $55,000,000 of 10-year, 9% callable bond dated July 1, 20Y1, at a market (effective) rate of 7%, receiving cah of $62,817,040. Interet i payable emiannually on December 31 and June 30. Dec. 31. Paid the emiannual interet on the bond. The bond premium amortization of $390,852 i combined with the emiannual interet payment. 20Y2 June 30. Paid the emiannual interet on the bond. The bond premium amortization of $390,852 i combined with the emiannual interet payment. Dec. 31. Paid the emiannual interet on the bond. The bond premium amortization of $390,852 i combined with the emiannual interet payment. 20Y3 June 30. Recorded the redemption of the bond, which were called at 103. The balance in the bond premium account i $6,253,632 after payment of interet and amortization of premium have been recorded. (Record the redemption only. )