Instructions Oakwood Corporation is delinquent on a $2,400,000, 10% noto to Second National Bank that was duo January 1, 2019. At that time. Oakwood owed the principal amount plus $34,031 82 of accrued interest. Oakwood enters into a debt restructuring agreement with the bank on January 2, 2019, Required: Prepare the journal entries for Oakwood to record the debt restructuring agreement and all subsequent interest payments assuring the following independent alternatives 1. The bank extends the repayment date to December 31, 2022, forgives the accrued interest owed, reduces the propew by $200,000, and reduces the interest rate to 8% 2. The bank extends the repayment ciute to December 31, 2022. forgives the accrued interest owed, reduces the principal by $200,000, and reduces the interest rate to 1% 3. The bark accepts 160,000 shares of Oakwood's 65 par value common stock, which is currently selling for $14.50 per share, in full settlement of the debt 4. The bank acompts land with a far value of $2,300,000 in nal settlement of the debt. The land is being carried on Oakwood's books at a cost or $2,200,000 PAGE 2019 PAGE 2020 PAGE 2021 PAGE 2022 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF DEBIT CREDIT 1 2 3 4 5 PAGE 2019 PAGE 2020 PAGE 2021 PAGE 2022 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF DEBIT CREDIT 1 2 3 2. The bank extends the repayment data Dramhar1 2022 for was the Annart interest wel redirectha nincinal hvem man General Joumal PAGE 2019 PAGE 2020 PAGE 2021 PAGE 2022 GENERAL JOURNAL DATE ACCOUNT TITLE POST, REF DEBIT CREDIT 1 2 3 2. The bank extends the repayment date to December 31, 2022, forgives the accrued interest owed, reduces the principal by $200.000, andre PAGE 2019 PAGE 2020 PAGE 2021 PAGE 2022 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF DEBIT CREDIT 1 2 3 PAGE 2019 PAGE 2020 PAGE 2021 PAGE 2022 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF 1 DEBIT CREDIT 2 3 5 6 $2,200.000 PAGE 2019 PAGE 2020 PAGE 2021 PAGE 2022 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF DEBIT CREDIT 1 2 3. The bank accepts 160,000 shares of Oakwood's $5 par value common stock, which is currently selling for $14.50 per share, in full settler PAGE 2019 PAGE 2020 PAGE 2021 PAGE 2022 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF DEBIT CREDIT 1 2 General Joumal PAGE 2019 PAGE 2020 PAGE 2021 PAGE 2022 GENERAL JOURNAL DEBIT CREDIT DATE ACCOUNT TITLE POST. REF: 1 2 General Journal PAGE 2019 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REE DEBIT CREDIT 1 2 3 4 5 PAGE 2019 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF DEBIT CREDIT 1 2 3 4 5