Exercise 14-25 (Part Level Submission) On December 31, 2017, the Ayayai Bank enters into a debt restructuring agreement with Barkley Company, which is now experiencing financial trouble. The bank agrees to restructure a 12%, issued at par, $4,300,000 note receivable by the following modifications: 1. Reducing the principal obligation from $4,300,000 to $2,920,000. 2. Extending the maturity date from December 31, 2017, to January 1, 2021. 3. Reducing the interest rate from 12% to 10%. Barkley pays interest at the end of each year. On January 1, 2021, Barkley Company pays $2,920,000 in cash to Ayayai Bank. Answer the following questions related to Ayayai Bank (creditor). Compute the loss Ayayai Bank will suffer under this new term modification. (Round answer to 0 decimal places, e.g. 38,548.) Loss on restructuring of deb Prepare the journal entry to record the loss on Ayayai's books. (Round answers to O decimal places, e.g. 38,548. 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.) Date Account Titles and Explanation Debit Credit December 31, 2017 Bad Debt Expense Allowance for Doubtful Accounts Click if you would like to Show Work for this question: Open Show Work