Martinez Company issues a $4-$year, $\backslash (7\mathrm{.}7\backslash \%\backslash )$ fixed$-$rate interest only, nonprepayable $\backslash (\backslash$$ $1,080,000\backslash )$ note payable on December $31,2024.$ It decides to change the interest rate from a fixed rate to variable rate and enters into a swap agreement with M$\backslash$&S Corp. The swap agreement specifies that Martinez will receive a fixed rate at $\backslash (7\mathrm{.}7\backslash \%\backslash )$ and pay variable with settlement dates that match the interest payments on the debt. Assume that interest rates have declined during $2025$ and that Martinez received $\backslash (\backslash$$ $12,600\backslash )$ as an adjustment to interest expense for the settlement at December $31,2025.$ The loss related to the debt $($due to interest rate changes$)$ was $\backslash (\backslash$$ $48,100\backslash ).$ The value of the swap contract increased $\backslash (\backslash$$ $48,100\backslash ).($a$)$ Prepare the journal entry to record the payment of interest expense on December $31,2025.($b$)$ Prepare the journal entry to record the receipt of the swap settlement on December $31,2025.($c$)$ Prepare the journal entry to record the change in the fair value of the swap contract on December $31,2025.($d$)$ Prepare the journal entry to record the change in the fair value of the debt on December $31,2025.$