Question: (a) What are the general rules for measuring and recognizing a gain or loss by the debtor on a settlement of troubled debt which includes

(a) What are the general rules for measuring and recognizing a gain or loss by the debtor on a settlement of troubled debt which includes the transfer of noncash assets?

(b) What are the general rules for measuring and recognizing a gain and for recording future payments by the debtor in a troubled debt restructuring?

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