The Following Information Pertains to the Transfer of Real Estate

The following information pertains to the transfer of real estate in regards to a troubled debt restructuring by North Co. to Bell Co. in full settlement of North's liability to Bell: What amount should Bell report as a gain or (loss) on restructuring?

A) $120,000 ordinary loss.
B) $120,000 extraordinary loss.
C) $150,000 ordinary loss.
D) $150,000 extraordinary loss.