Windsor Corp. owes $249,000 to First Trust. The debt is a 10-year, 12% note due December 31, 2022. Because Windsor Corp. is in financial trouble, First Trust agrees to extend the maturity date to December 31, 2024, reduce the principal to $208,000, and reduce the interest rate to 5%, payable annually on December 31. Windsor's market rate of interest is 8%. Prepare the journal entries on Windsor's books on December 31, 2022 2023, and 2024. Remove the old note at face value and record the new note in the same journal entry. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit December 31, 2022 December 31, 2023 December 31, 2024