Question 5 Fredericton owes Ottawa a $1,200,000, 12%, three-year note dated December 31, 2017. Fredericton has been experiencing financial difficulties, and still owes accrued interest of $144,000 on this note at December 31, 2019. Under a troubled debt restructuring, on December 31, 2019, Ottawa agrees to settle the note plus the accrued interest for land that Fredericton owns, which has a fair value of $1,080,000. Fredericton's original cost of the land is $870,000. Ignoring income taxes, on its 2019 income statement. Analyze the accounting issue and prepare any journal entries you deem necessary