Cullumber Inc. issued a debenture bond to Karamoutz Bank to finance new technology it developed. The debenture was for $420,000, issued at face value, with a 10 -year term and interest payable at 10%. Cullumber's new technology proved not to be technically feasible and caused it to go into financial distress. The debenture is due today, December 31,2023, and Cullumber does not have the funds to repay the debenture or the interest. As a result, Karamoutz agreed to extend the debenture due date for five more years and reduce the principal amount to $252,000 in exchange for receiving 16,800 common shares of Cullumber, currently trading at $5 per share. Interest will still be payable at 10% and will continue to be due annually on December 31 of each year. The current market rate is 12%. Cullumber prepares financial statements in accordance with IFRS. click here to view the factor table PRESENT VALUE OF 1. click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Using (1) factor tables, (2) a financial calculator, or (3) Excel function PV, prepare all the necessary journal entries on the books of Cullumber from the time of restructuring the debenture through maturity. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places e.g. 58,971. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)