In a Troubled Debt Restructuring in Which the Debt Is

In a troubled debt restructuring in which the debt is continued with modified terms and the carrying amount of the debt is less than the total future cash flows,

A) an extraordinary gain should be recognized by the debtor.
B) a gain should be recognized by the debtor.
C) a new effective-interest rate must be calculated.
D) no interest expense or revenue should be recognized in the future.