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Make the journal entry to record the impairment loss

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Question - Splish Company owns equipment that cost $1,089,000 and has accumulated depreciation of $459,800. The expected future net cash flows from the use of the asset are expected to be $605,000. The fair value of the equipment is $484,000.

Required - Make the journal entry, if any, to record the impairment loss.

Reference no: EM132448241

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