Event viewer log creation error with MVC 4

See more:

ASP.NET

MVC4

IIS8

Action Method

public ActionResult Index()
 {
  ViewBag.Message = "Modify this template to jump-start your ASP.NET MVC application.";
  LogError("lok", "lok2", "lok3");
  return View();
 }

LogError Method

private void LogError(string transactionId, string sAmountPaid, string deviceId)
        {
            // Creating the source, which will generate error
            if (!EventLog.SourceExists("MyApplication"))
            {
                //Creating log, where error will be logged
                EventLog.CreateEventSource("MyApplication", "MyLog");
            }

            // Creating object of EventLog to log error
            var myAppLog = new EventLog { Source = "MyApplication" };

            //Writing error to log
            myAppLog.WriteEntry(transactionId + sAmountPaid + deviceId);
        }

When I run Home page it always shows "Error. An error occurred while processing your request.".I suspect this is due to unable to create log on "Event Viewer".When I run above code on local host it's working fine.But when I publish it into IIS server on Windows Server 2012 it's giving above error.

My Question: Should I enable any kind of permission for create log on Event viewer.If so how to do that ? My IIS is working on Windows Server 2012.