On December 15 of the current year, Adams Corporation determined that equipment had been impaired so that the book value of the equipment was reduced by \(\$ 46,000\). In addition, the senior management of the company communicated an employee severance plan whereby 15 employees could receive a termination benefit of \(\$ 4,000\) per employee. Provide the journal entry for the asset impairment and the restructuring charge.

obj. 5