Hogan, Inc. is a telecommunications company. Currently, Hogan is experiencing difficulty in servicing its long-term debt. The corporation ha obtained permission from its creditors to restructure outside of the court system with the following transactions: a A piece of equipment that had cost Hogan $95,000 and had $19,000 of accumulated depreciation was transferred to a creditor in full settlement of a $45,000 note with $2,250 of accrued interest b. 2,000 shares of $2 par value common stock were issued to a creditor in full payment of a $80,000 loan, plus accrued interest of $800. The stock was selling for $30 per share on the date of exchange A loan with a book value of $50,000 and accrued interest of $1,000 was restructured so that three annual installments of $12,000 will satisfy both the principal and interest in full. Required Prepare the necessary journal entries to record these transactions in the journal of Hogan