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Greenwater Inc. is a company that follows IFRS and has a year end of July 31. Greenwater Inc. owns a trademark that it purchased 4 years ago for $136,400. The accumulated amortization on this trademark to July 31, 2020 is $27,300.
Other information available about the trademark on July 31, 2020 is as follows:
Required:
Problem 1: Determine if the trademark is impaired at July 31, 2020 and prepare any journal entry to record the impairment, if required
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