Please help me to answer 18,19,20

18. On December 31, 2012, Columbia Company shows the data presented in the image with respect to its matured obligation. The company is threatened with a court suit if it could not pay its maturing debt. Accordingly, the company enters into an agreement with the creditor for the transfer of a non-cash asset in full settlement of the mortgage. The agreement provides for the transfer of real estate carried in the books of Columbia at P3,000,000. The real estate has a current fair market value of P4,500,000. What amount should Columbia recognize in profit or loss for the year 2012 as a result of this transaction? * Notes payable P5,000,000 Accrued interest Payable 500,000 a. P500,000 O b. P1,000,000 O c. P1,500,000 d. P2,500,000 19. On December 31, 2012, Guimary Corporation is experiencing extreme financial pressure and is in default in meeting interest payment in its long- term note of P6,000,000 due on December 31, 2013. The interest rate is 10% payable every December 31. In an agreement with the creditor, Guimary Corporation obtained the changes in the terms of the note as shown in the image. At the time of restructuring, the stated rate of interest of the original obligation prevailed in the market for similar notes. What is Guimary Corporation's gain on debt restructuring?* The accrued interest of P600,000 on December 31, 2012 is forgiven. The principal is reduced by P1,000,000. . The new interest rate is 12%. The new date of maturity is December 31, 2017. a. P1,979,180 O b. P1,600,000 O c. P1,221,020 O d. PO 1 point 20. Down Company has an overdue Notes Payable to City Bank of P8,000,000 and recorded accrued interest of P640,000, based on 8% interest rate. This rate of interest is presumed to be the market rate at the time of debt restructuring. As a result of a settlement on December 31, 2012, City Bank agreed to the restructuring arrangement as presented in the image. What is Down Company's gain on debt restructuring? Round off present value factors to four decimal places." Reduced the principal obligation to P6,000,000 Forgave the P640,000 accrued interest Extended the maturity date to December 31, 2014 Annual interest of 10% is to be paid on December 31, 2013 and 2014 a. P2,640,000 O b. P2.426,220 O c. P1,440,000 O d. PO