At the beginning of 2020 Corp A issued at 96.4 a $10,000,000, 10 year note payable to Corp B at the rate of 6.2%. The debt had an annual coupon due December 31st, and Corp A made the first 2 payments. On Jan 4, 2022, the debt was restructured due to bankruptcy by changing the coupon rate to 4% and the maturity value to $6,800,000.

 

Record the 2022 journal entries for both Corp A and Corp B.  show all work.