On 3/31/07 corp sold 5000000 of its 8% 10yr bonds for $4807500 including accrued

On 3/31/07 corp sold 5000000 of its 8% 10yr bonds for $4807500 including accrued interest. The bonds were dated 1/1/07. Interest is paid semiannually on 1/1 and 7/1. On 4/1/11 corp purchased 1/2 of the bonds on the open market at 99 plus accrued interest and canceled them. Corp uses the straight line method for amortization of bond premiums and discounts.a. What was the amount of the gain or loss on retirement of the bonds?b. Prepare journal entry needed at 41/11 to record retirement of the bonds. Assume that interest and premium or discount amortization have been recorded through 1/1/11. Record interest and amortization on only the bonds retired.c. Prepare the journal entry needed at July 1 2011 to record interest and premium or discount amortization.