7.

D Question 7 1 pts Suppose a sinkhole opens up next to the company's headquarters, and it is determined the building's value has been impaired by $20,000. What journal entry should the company make to record the impairment? Debit: Loss due to Impairment $20,000 and Credit: Accumulated Depreciation $20,000 Debit: Depreciation expense $20,000 and Credit: Accumulated Depreciation $20,000 O Debit: Loss Due to Impairment $20,000 and Credit: Building $20,000 Debit: Depreciation expense $20,000 and Credit: Loss due to Impairment $20,000