4c

Presented below is information for equipment owned by Grouper Company at December 31, 2025: Assume that Grouper will continue to use this asset in the future. As of December 31,2025, the equipment has a remaining useful life of 4 years. (a) Your answer is correct. Fill the missing amounts and choose the correct option. For Grouper company, the recoverability test compares $ |to$ the recoverability test, because is/are less than | so a on impairment is recorded in 2025. Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) (c) Your answer is incorrect. Prepare the journal entry to record depreciation expense for 2026. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)