Pearl Limited owes $310,000 to Tamarisk Inc. on a 10-year, 12% note due on December 31, 2020. The note was issued at par. Because Pearl is in financial trouble, Tamarisk Inc. agrees to extend the maturity date to December 31, 2022, reduce the principal to $270,000, and reduce the interest rate to 5%, payable annually on December 31. The market rate is currently 5%. Pearl prepares financial statements in accordance with IFRS. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Using (1) factor tables, (2) a financial calculator, or (3) Excel function PV, prepare the journal entries on Pearl's books on December 31, 2020, 2021, and 2022. (Hint: Refer to Chapter 3 for tips on calculating.) (For calculation purposes, use 5 decimal places as