20.

In a troubled debt restructuring, assets with a book value of $200,000 and a fair value of $190,000 are transferred in full settlement of a $300,000 debt. How is this reported?

Select one:

a. Loss on asset disposition, $10,000; Gain on restructuring, $110,000

b. Gain on restructuring, $100,000

c. Loss on asset disposition, $10,000; Gain on restructuring, $100,000

d. Gain on asset disposition, $100,000