Halvor has asked to restructure its 5 million dollar note outstanding.It has 3

Halvor has asked to restructure its 5 million dollar note outstanding.It has 3 years remaining and pays 10 % interest. Present Market rate is 12%.It was issued
at face value

A) Bank accepts common stock valued at 3700000 in exchange.Common Stock has par value of 1700000

B) Bank accepts land in exchange.Land has book value of 3250000 and fair value 4000000

C) Bank says you do not have to pay interest over 3 year period

D) Bank reduces principal to 4166667 and require interest in 2nd and 3rd yr at 10%

Journal entries for both sides on all four