Question: BIUS Moving to another question will save this response. Question 2 Vargo Co. Owes $195,500 to TD Trust Co. The debt is an 11-year, 9%

BIUS Moving to another question will save this response. Question 2 Vargo Co. Owes $195,500 to TD Trust Co. The debt is an 11-year, 9% note. Because Vargo Co. is in financial trouble, TD agrees to accept a piece of equ debt. The equipments original cost was $165,000. The equipment's accumulated depreciation to date is $90,000, and its fair value is $120,000. Instructions 1. Prepare the Journal Entries on Vargo's books for the debt restructuring 2. Prepare the journal entries on TD's books for the debt restructuring. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Paragraph - Arial v 3 10pt < H < A < 68 I H BBB E 0 HE

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