On December 31, 2019. the First Bank entered into a debt restructuring agreement with Gateway Manufacturing Company, which is in financial trouble. The bank agrees to restructure Gateway's $2,000,000 note by the following modifications: Reducing the principal from $2,000,000 to $1,600,000 Forgiving $50,000 of accrued interest on the note. Extending the maturity from December 31, 2019 to December 31, 2022. Reducing the interest rate on the note from 12% to 10% Prepare the journal entry to record the debt restructuring on Gateway's books. Assuming no gain is to be recognized on the restructuring, what techniques might be used by Gateway to determine the "effective interest rate to be recognized over the period of the note extension