Skysong Corp. owes Sheridan Corp. a $113,100,10-year, 10% note issued at par plus $11,310 of accrued interest. The note is due today, December 31, 2023. Because Skysong is in financial trouble, Sheridan agrees to forgive the accrued interest and $9,020 of the principal and to extend the maturity date to December 31, 2026. Interest at 10% of the revised principal will continue to be due on December 31 of each year. Assume the market rate of interest is 10% at the date of refinancing. Skysong and Sheridan prepare financial statements in accordance with IFRS. Skysong Corp. SCHEDULE OF DEBT REDUCTION AND INTEREST EXPENSE AMORTIZATION