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24.Norton, Inc. purchased equipment in 2019 at a cost of $900,000. Two years later it became apparent to Norton, Inc. that this equipment had suffered

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24.Norton, Inc. purchased equipment in 2019 at a cost of $900,000. Two years later it became apparent to Norton, Inc. that this equipment had suffered an impairment of value. In early 2021, the book value of the asset is $585,000 and it is estimated that the fair value is now only $360,000. The entry to record the impairment is

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