37.00 26 2.5 A company has a longlived asset with a carrying value of $120.000, expected future cash floss of $130.000, present value of expected future cash flows of $100.000, and a market value of $105.000 What amount of impairment loss should be reported US GAAP O $20,000 O $5000 O O $15,000 Type here to search 27 2.5 points The market value of a firm commitment to purchase pairs of jeans was $250,000 at 12/31/19. The firm entered into the agreement on 4/1/19 to take delivery in March 2020 price of $350,000. On March 1 of 2020 when the company takes delivery of the jeans, the market price of the jeans, due to extreme demand of denim, would cost $375,000 at market. O AD The entry made at 3/1/2020 would include a: O A debit to jeans Inventory for $375,000 A Debit to Estimated Liability on PC for $100,000 a loss of $25,000 O a debit to Recovery of Loss of $25,000 A Credit to Recovery of Loss for $125,000 ooo