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Prepare Ayayai journal entry to record loss on impairment

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Reference no: EM133091804

Question - Ayayai Corporation owns a patent that has a carrying amount of $790,000. Ayayai expects future net cash flows from this patent to total $610,000. The fair value of the patent is $372,000. Prepare Ayayai's journal entry to record the loss on impairment.

Reference no: EM133091804

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