Record the 2025 interest revenue. Journal entry worksheet Record the restructuring of debt. Record the loss on troubled debt restructuring. Record the 2026 interest revenue. Record the reduction of principal to $26 million. Record the 2024 interest revenue. Record the 2027 interest revenue. Rothschild Chair Company, Incorporated, was indebted to First Lincoln Bank under a $31 million, 10\% unsecured note. The note was signed January 1, 2014, and was due December 31, 2027. Annual interest was last paid on December 31, 2022. At January 1, 2024, Rothschild Chair Company was experiencing severe financial difficulties and negotiated a restructuring of the terms of the debt agreement. Note: Use appropriate factor(s) from the tables provided. (FV of \$1, PV of \$1, FVA of \$1, PVA of \$1, FVAD of \$1 and PVAD of \$1) Required: Prepare all journal entries by First Lincoln Bank to record the restructuring and any remaining transactions, for current and future years, relating to the debt under each of the independent circumstances below: 1. First Lincoln Bank agreed to settle the debt in exchange for land having a fair value of $27 million but carried on Rothschild Chair Company's books at $24 million. 2. First Lincoln Bank agreed to (a) forgive the interest accrued from last year, (b) reduce the remaining four interest payments to $1.8 million each, and (c) reduce the principal to $26 million