nash company owes $$236,000$ plus $ $21,500$ of accrued interest to crane state bank.the debt is a $10$year, $10\%$ note.During $2020.$ Nash business deteriorated due to a faltering regional economy.on december $31,2020,$ crane state bank agrees to accept an old machine and cancel the entire debt.the machine has a cost of $$383,000,$ accumulated depreciation of $$210650$ and a fair value of $ $215,000.$a$)$ prepare journal entry for nash company b$)$ assume that $,$ instead of tranferring the machine, Nash decides to grant $16,000$ shares of its common stock $($$$10)$ which has a fair value of $$215,000$ in full settlement of the loan obligation.if crane state bank treats nash stock as a trading investment $,$prepare the entries to record the transaction for both parties.