2. Emmet's company has entered into an agreement with its creditor, Roberts Corporation. Roberts has agreed to change the debt terms that become Emmet's obligation to it under which Roberts forgives accrued interest and lowers the interest rate. Currently the debt is $ 150,000, 10 percent, 5-year note, with three years remaining before maturity. The interest accrued was $ 30,000 payable. Roberts has agreed to extend the three-year note and reduce the interest rate to 4 percent with payments made annually, and to write off accrued interest in its entirety. Keep a due entry into the Emmet Companies books by the restructuring date