ASSETSWAP On Jan. 01,201, TRISSIA Co. settled a 1,000,000 pesos loan payable with an unamortized discount of 50,000 pesos and an accrued interest of 90,000 pesos by transferring to the lender old equipment with cost of 5,000,000, accumulated depreciation of 3,200,000, and fair value of 1,000,000 REQUIREMENTS: a. Compute for the gain or loss on extinguishment of the liability b. Prepare 1 compound journal entry for this transaction