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3. Presented below is information related to equipment owned by Porto Company at December 31,2023. ussume that Porto will continue to use this asset in

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3. Presented below is information related to equipment owned by Porto Company at December 31,2023. ussume that Porto will continue to use this asset in the future. As of December 31, 2023, the equipment has a emaining useful life of 4 years. a. Conduct the recoverability test for the equipment. b. Prepare the journal entry (if any) to record the impairment of the asset at December 31,2023

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