On December 31, 2006, Poore Co. is in financial difficulty and cannot pay a note due that day. it is a $500,000 note with $50,000 accrued interest payable to Edsen, Inc. Edsen agrees to forgive the accrued interest, extend the maturity date to December 31, 2008, and educe the interest rate to 4%. The present value of the restructured cash flows is $428,000. Prepare entries for the following (a) The restructure on Poore's books. (b) The payment of interest on December 31, 2007 (c) The restructure on Edsen's books