In a troubled debt restructuring, a debtor must do which of the following?

A Recognize a gain on the retirement of debt, equal to the difference between the carrying amount of the obligation settled and the fair value of the assets and$/$or equity interest transferred to the creditorB Always classify the gain on the retirement of debt as a discontinued operationC Recognize as a discontinued item the gain or loss equal to the difference between the$$fair value and the carrying amount of the assets transferred, to the extent that assets are transferred pursuant to the restructuringD File for bankruptcy