Exercise 14-26 Marin Co. owes $194,4000 to Headland Inc. The debt is a 10-year, 11% note. Because Marin Co. is in financial trouble, Headland Inc. agrees to accept some land and cancel the entire debt. The property has a book value of $92,700 and a fair value of $127,700. (a) Prepare the journal entry on Marin's books for debt restructure. (b) Prepare the journal entry on Headland's books for debt restructure. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) Marin Co.'s entry: (b) Headland Inc. entry