Ware Woods, Inc. has a fiscal year-end of December 31, 2017. The company reported $ 202,500 in short-term notes payable due on April 1, 2018, on its year-end balance sheet. Ware Woods extended the due date for this debt to January 31, 2019, during the post-balance sheet period. The bank agreed to extend the debt term for $ 160,000 of the total amount of the loan; $ 42,500 is due on its original due date. Prepare the journal entry required on December 31, 2017, to reflect the refinancing agreement under U.S. GAAP