(Debtor/Creditor Entries for Settlement of Troubled Debt) Gottlieb Co. owes $199,800 to Ceballos Inc. The debt is a 10-year, 11% note. Because Gottlieb Co. is in financial trouble, Ceballos Inc. agrees to accept some property and cancel the entire debt. The property has a book value of $90,000 and a fair market value of $140,000. (a) Prepare the journal entry on Gottlieb's books for debt restructure. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Description/Account Debit Credit (b) Prepare the journal entry on Ceballos's books for debt restructure. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)