Please help

Ivanhoe Corp. currently has an issued debenture outstanding with Abbre Bank. The note has a principal of $ 5 million, was issued at face value, and interest is payable at 7%. The term of the debenture was 10 years, and was issued on December 31, 2013. The current market rate for this debenture is 9% Ivanhoe Corp. has been experiencing financial difficulties and has asked Abbra Bank to restructure the note. Both Ivanhoe and Abbre Bank prepare financial statements in accordance with IFRS. It is currently December 31, 2020. For each of the following independent situations related to the above scenario, prepare the journal entries that Ivanhoe Corp. and Abbra Bank would make for the restructuring that is described. Abbra Bank has agreed to accept common shares with a market value of $ 4.5 million in exchange for relinquishing this note. Assume that the bank had previously recognized a loss on impairment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) On the books of Ivanhoe Corporation: Account Titles and Explanation Debit Credit On the books of Abbra Bank: Account Titles and Explanation Debit CreditAbbra Bank has agreed to accept a building in exchange for relinquishing this debenture. The building has a carrying amount of $ 500.000 (original cost was $ 1,700,000) and a fair value of $ 4.5 million. Assume that the bank had already recognized a loss on impairment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) On the books of Ivanhoe Corporation: Account Titles and Explanation Debit Credit On the books of Abbra Bank: Account Titles and Explanation Debit CreditAbbre Bank agrees to modify the note by allowing Ivanhoe not to pay the interest on the note for the remaining period. (Hint: Refer to Chapter 3 for tips on calculating and use the time value of money tables.) Assume that the bank had not previously recognized any loss on impairment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round discount factors to 6 decimals eg. 0.527500 and final answers to O decimal places, e.g. 5,275.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1 On the books of Ivanhoe Corporation: Account Titles and Explanation Debit Credit On the books of Abbra Bank: Account Titles and Explanation Debit Credit v eTextbook and Media Abbre Bank agrees to reduce the principal to $ 1.7 million and require interest only in the third year at 4% waiving the first 2 years' worth of interest (Hint: Refer to Chapter 3 for tips on calculating and use the time value of money tables.) Assume that the bank had not previously recognized any loss on impairment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) On the books of Ivanhoe Corporation: Account Titles and Explanation Debit CreditAbbra Bank agrees to reduce the principal to $ 1.7 million and require interest only in the third year at 4% waiving the first 2 years worth of interest (Hint: Refer to Chapter 3 for tips on calculating and use the time value of money tables.) Assume that the bank had not previously recognized any loss on impairment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) On the books of Ivanhoe Corporation: Account Titles and Explanation Debit Credit On the books of Abbra Bank: Account Titles and Explanation Debit Credit