2 Souto 02. On January 1, 2020, Tackon Corporation owed Second State Bank $700,000, under a 10% note with two years remaining to maturity Due to financial difficulties. Tackon was unable to pay the previous year's interest. Second State Bank agreed to the following terms: 1) Eliminate the accrued interest of last year. 2) Reduce the remaining two interest payment from $70,000 each to $35,000 each. 3) Reduce the maturity value from $700,000 to $500,000, What is the amount of gain Tackon would recognize on 1/1/2020 from this troubled debt restructuring? son Select one: a $50,000 b. $200,000 O $150,000 OdCannot be determined Clear my choice stion 3 03. Based on the information in question 2. what is the journal entry for the payment of $35,000 interest on 12/31/20207 yo s out of 35,000 35.000 35,000 ution Select one: a. Interest expense Cash O b. Notes payable Cash Oo. Loss from debt restructuring Cash Od. Interest payable Cash 35,000 35,000 35,000 35.000 35,000 MacBook Pro