Culver Co. owes $208,500 to Larkspur Inc. The debt is a 10-year, 11% note. Because Culver Co. is in financial trouble, Larkspur Inc. agrees to accept some land and cancel the entire debt. The property has a book value of $81,900 and a fair value of $147,900. (a) Prepare the journal entry on Culver's books for debt restructure. Prepare the journal entry on Larkspur's books for debt restructure. (b) (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation (a) Culver Co.'s entry: (b) Larkspur Inc. entry