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Question - Record the Transaction

At the end of the year, P3 believed a trademark, that had a carrying value of $75,000 had suffered impairment due to the aging of the design for that particular line of party favors. The fair value of the trademark is $62,000 and the future cash flows are estimated to be $66,000. The trademark will be fully amortized by 12-31-2022.

Reference no: EM132615203

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