10C Clear The information that follows relates to equipment owned by Bonita Limited at December 31, 2023 Cost $9.360.000 Accumulated depreciation to date 1040.000 Expected future net cash flows fundiscounted) 7.280.000 Expected future net cash flows (discounted, value in usel 6,604,000 Fair value 6448.000 Costs to sell (costs of disposal) $2.000 At December 31, 2023 Bonita discontinues use of the equipment and intends to dispose of it in the coming year by selling it to a competitor. It is expected that the costs of disposal will total $52.000 (a1-a3) Assume that Bonita is a private company that follows ASPE (Cet account titles are automatically indented when the amount Q Search 3 (a1-a3) Assume that Bonita is a private company that follows ASPE. (Credit account titles are automatically indented when the amount entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts Lut all debit entries before credit entries) Prepare the journal entry at December 31,2023 to record asset impairment, if any 1. 2 Prepare the journal entry to record depreciation expense for 2024 Assume that the asset was not sold by December 31, 2024. The equipment's fair value (and recoverable amount on this date is $6.76 million. Prepare the journal entry, if any, to record the increase in fair value it is expected that the costs of disposal will total $52,000 No. Account Titles and Explanation (1) 8 (2) Debit Credit Clear No. Account Titles and Explanation Debit Credit (1) (2) (3) List of Accounts Q Search Attempts: 0 of 5 used SA WC Clear (b1-b3) D The parts of this question must be completed in order. This part will be available when you complete the part above Q Search hp