On December 31, 2010, the American Bank enters into a debt restructuring agreement with Barkley Company, which is now experiencing financial trouble. The bank agrees to restructure a 12%, issued at par, $3,000,000 note receivable by the following modifications: Reducing the principal obligation from $3,000,000 to $2,400,000. Extending the maturity date from December 31, 2010, to December 31, 2013. Reducing the interest rate from 12% to 10%. Barkley pays interest at the end of each year. On January 1, 2014, Barkley Company pays $2,400,000 in cash to American Bank. Can Barkley Company record a gain under the term modification mentioned above