Oriole Inc. owes Buffalo Bank $168,000 plus $17,200 of accrued interest. The debt is a 10-year, 10% note. During 2023, Oriole's business declined due to a slowing regional economy. On December 31, 2023, the bank agrees to accept an old machine and cancel the entire debt. The machine has a cost of $326,000, accumulated depreciation of $195,000, and a fair value of $148,000. The bank plans to dispose of the machine at a cost of $6,500. Both Oriole and Buffalo Bank prepare financial statements in accordance with IFRS 9. (a) Prepare the journal entries for Oriole and Buffalo Bank to record this debt settlement. Assume Buffalo Bank had previously recognized an allowance for doubtful accounts for the impairment prior to the settlement. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation Dec. 31, Oriole Inc. 2023 Dec. 31, Buffalo Bank 2023 Debit Credit