Entries for bonds payable, including bond redemption

The following transactions were completed by Montague Inc., whose fiscal year is the calendar year:

$20Y1$

July $1.$ Issued $$55,000,000$ of $10-$year, $9\%$ callable bonds dated July $1,20$ Y $1,$ at a market $($effective$)$ rate of $7\%,$ receiving cash of $$62,817,040.$ Interest is payable semiannually on December $31$ and June $30.$

December $31.$ Paid the semiannual interest on the bonds. The bond premium amortization of $$390,852$ is combined with the semiannual interest payment.

$20Y2$

June $30.$ Paid the semiannual interest on the bonds. The bond premium amortization of $$390,852$ is combined with the semiannual interest payment.

December $31.$ Paid the semiannual interest on the bonds. The bond premium amortization of $$390,852$ is combined with the semiannual interest payment.

$20Y3$

June $30.$ Recorded the redemption of the bonds, which were called at $103.$ The balance in the bond premium account is $$6,253,632$ after payment of interest and amortization of premium have been recorded. $($Record the redemption only.$)$

Journalize the entries to record the foregoing transactions. If an amount box does not require an entry, leave it blank. When required, round amounts to the nearest dollar. $20$ Y $1$ July $1$

Dec. $31$

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