Metlock Co. owes $201,600 to Bonita Inc. The debt is a 10 -year, 11% note. Because Metlock Co. is in financial trouble, Bonita Inc. agrees to accept some land and cancel the entire debt. The property has a book value of $98,500 and a fair value of $151,100. a. Prepare the journal entry on Metlock's books for debt restructure. b. Prepare the journal entry on Bonita'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 the amount is entered. Do not indent manually. List all debit entries before credit entries.)