please help me to solve this. thank you.

Your answer is partially correct. Try again. Nash Corporation is having financial difficulty and therefore has asked Crane National Bank to restructure its 55.9 million note outstanding. The present noteras 3 years remaining and pays a current rate of interest of 8%. The present market rate for a loan of this nature is 12%. The note was issued at its face value The following are four independent situations. Prepare the journal entry that Nash and Crane National Bank would make for each of these restructurings (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to decimal places eg. 58,971. If no entry is required, select "Me Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Crane National Bank agrees to take an equity interest in Nash by accepting common stock valued at $3.655,000 in exchange for relinquishing its claim on this note. The commun stack has a per (b) Crane National Bank agrees to accept land in exchange for relinquishing its claim on this note. The band has a book value of $3,108,000 and a fair value of $3.923,000. (c) Crane National Bank agrees to modify the terms of the note, indicating that Nash does not have to pay any interest on the note over the 3-year period. (d) Crane National Bank agrees to reduce the principal balance due to $5,086,207 and require interest only in the second and third year at a rate of in Click here to view factor tables No. Account Titles and Explanation Debit Credit (a) Nash Corporation Notes Payable Common Stock dy Paid in Capital in Excess o Gain on Restructuring of D MI IS Paid in Capital in Excess o CALCULATOR INTERVEN BACK NEXT Gain on Restructuring of Crane National Bank Equity Investments Allowance for Doubtful Act Notes Receivable (b) Nash Corporation Notes Payable Land Ganon Disposal of Plant Gain on Restructuring of D Crane National Bank Land Allowance for Doubtful Ace Crane National Rank CALCULATOR PULL SCREEN PRINTER VERSION BACK NEY Land Allowance for Doubtful Acc Notes Receivable (c) Nash Corporation No Entry No Entry Crane National Bank Bad Debt Expense Allowance for Doubtfil Act (d) Nash Corporation No Entry No Entry Crane National Bank IOA Bad Debt Expense CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NEXT Allowance for Doubtful Ace Notes Receivable (c) Nash Corporation No Entry No Entry Crane National Bank Bad Debt Expense Allowance for Doubtful Ace (d) Nash Corporation No Entry No Entry Crane National Bank Bad Debt Expense Allowance for Doubtful Ace Your answer is partially correct. Try again. Nash Corporation is having financial difficulty and therefore has asked Crane National Bank to restructure its 55.9 million note outstanding. The present noteras 3 years remaining and pays a current rate of interest of 8%. The present market rate for a loan of this nature is 12%. The note was issued at its face value The following are four independent situations. Prepare the journal entry that Nash and Crane National Bank would make for each of these restructurings (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to decimal places eg. 58,971. If no entry is required, select "Me Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Crane National Bank agrees to take an equity interest in Nash by accepting common stock valued at $3.655,000 in exchange for relinquishing its claim on this note. The commun stack has a per (b) Crane National Bank agrees to accept land in exchange for relinquishing its claim on this note. The band has a book value of $3,108,000 and a fair value of $3.923,000. (c) Crane National Bank agrees to modify the terms of the note, indicating that Nash does not have to pay any interest on the note over the 3-year period. (d) Crane National Bank agrees to reduce the principal balance due to $5,086,207 and require interest only in the second and third year at a rate of in Click here to view factor tables No. Account Titles and Explanation Debit Credit (a) Nash Corporation Notes Payable Common Stock dy Paid in Capital in Excess o Gain on Restructuring of D MI IS Paid in Capital in Excess o CALCULATOR INTERVEN BACK NEXT Gain on Restructuring of Crane National Bank Equity Investments Allowance for Doubtful Act Notes Receivable (b) Nash Corporation Notes Payable Land Ganon Disposal of Plant Gain on Restructuring of D Crane National Bank Land Allowance for Doubtful Ace Crane National Rank CALCULATOR PULL SCREEN PRINTER VERSION BACK NEY Land Allowance for Doubtful Acc Notes Receivable (c) Nash Corporation No Entry No Entry Crane National Bank Bad Debt Expense Allowance for Doubtfil Act (d) Nash Corporation No Entry No Entry Crane National Bank IOA Bad Debt Expense CALCULATOR FULL SCREEN PRINTER VERSION 4 BACK NEXT Allowance for Doubtful Ace Notes Receivable (c) Nash Corporation No Entry No Entry Crane National Bank Bad Debt Expense Allowance for Doubtful Ace (d) Nash Corporation No Entry No Entry Crane National Bank Bad Debt Expense Allowance for Doubtful Ace