Individual Assignment: Restructuring DebtReview the Restructuring Debt Data information.Part A: Provide your manager a comparison of the current reporting for debt, explaining the requirements for each type (bond, mortgage, capital lease, and others). Then, prepare the journal entries for the restructuring.Part B: To satisfy various benefit issues that have arisen as a result of the restructuring, new postemployment benefits have been created. The company currently has a defined benefits plan and is considering switching to a defined contribution plan to save costs. Compute the costs associated with keeping the current plan versus the costs of a defined contribution plan where the employer pays 3% of payroll. The agreement is that the employees get to keep what is already in the defined benefit plan. This prevents the situation of having to compute how much the company would recapture in surplus assets resulting from terminating the old plan. Then, compute a new postemployment benefit expense for 2007 and report this to your manager. Illustrate with schedules and notes.