Bridgeport Corp. owes $ 256,000 to Indigo Trust. The debt is a 10-year, 12% note due December 31, 2020. Because Bridgeport Corp. is in financial trouble, Indigo Trust agrees to extend the maturity date to December 31, 2022, reduce the principal to $ 205,000, and reduce the interest rate to 7%, payable annually on December 31. (a) Prepare the journal entries on Bridgeport's books on December 31, 2020 2021 2022 Prepare the journal entries on Indigo Trust's books on December 31, 2020 2021 2022. (b) Click here to view factor tables. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to 0 decimal places eg. 58,971. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit (a) Date Account Titles and Explanation Bridgeport Corn's 2020 Notes Payable 22300 Gain on Restructuring of Debt 22300 2021 Notes Payable 14350 Cash 14350 2022 Notes Payable 219350 Cash 14350 2022 Notes Payable 219350 Cash 219350 Debit Credit Date Account Titles and Explanation Indigo Trust's 2020 Bad Debt Expense 68324 Allowance for Doubtful Accounts 68324 2021 Cash Allowance for Doubtful Accounts Interest Revenue 2022 Cash Allowance for Doubtful Accounts Interest Revenue Interest Revenue Cash Allowance for Doubtful Accounts Interest Revenue (To record Interest Revenue) UN NE JE (To record maturity of Notes Receivable)