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3) Bowie Corp entered into a zero-interest Note Payable on January 1, 2015. The terms of the Note was that Bowie Corp would receive $1,500,000 on January 1, 2015 and payback $3,000,000 on December 31, 2029. During 2019, Bowie Corp went into bankruptcy protection. Bowie's Corp's lender agreed to a one-time $50,000 payment that would release Bowie Corp from any future obligation. On December 31, 2019, Bowie Corp recognized and paid its lender the agreed upon resettlement. Due to the uncertainty of the bankruptcy process, assume that no other journal entries pertaining to the Note Payable were recorded during 2019. Required: Prepare all journal entries required for 2015 and 2019