In a troubled debt restructuring, assets with a book value of $200,000 and a fair value of $180,000 are transferred in full settlement of a $250,000 debt.

How is this reported?

A.Loss on asset disposition, $20,000; Gain on restructuring, $90,000

B.Gain on restructuring, $70,000

C.Loss on asset disposition, $20,000; Gain on restructuring, $70,000

D.Gain on restructuring, $50,000