On December $31,2024,$ Cullumber Co$.$ is in financial difficulty and cannot pay its $$10,030,000$ loan obligation to Bonita, Inc. Bonita has agreed to accept $200,600$ shares of Cullumber stock $($$$1$ par$)$ that is currently trading at $$40$ per share in full settlement of the debt. When recording the transaction, Bonita's entry will include

a$)$ a credit to Note Receivable of $$8,024,000.$

b$)$ a debit to Allowance for Doubtful Accounts of $$2,006,000.$

c$)$ a credit to Allowance for Doubtful Accounts of $$2,006,000.$

d$)$ a debit to Loss on Restructuring of Debt of $$2,006,000.$

Answer choice D was incorrect.