Question: Refer to the debt restructuring information in E14-31. Required Prepare the journal entries for Great National Bank to record the restructuring agreement assuming: 1. The

Refer to the debt restructuring information in E14-31.


Required

Prepare the journal entries for Great National Bank to record the restructuring agreement assuming:

1. The bank accepts the 10,000 shares of Boonville’s stock.

2. The bank accepts the land.


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