7 M9-8 Recording Asset Impairment Losses (LO 9-4, LO 9-5) After recording depreciation for the current year Media Mania incorporated decided to discontinue uing ns printing equipment The equpment had cost $750000, accumulated was seling the equipment was $50,000 eciation was $550.000, and its foir value (based on estimated future cash fows from points t Determine whether the equipment is impaired 2 Prepare the yournal enaries to record the impaired asset O Answer is not complete Complete this question by entering your answers in the tabs below. Required 1 Requied Prepare the journal entries to record the impaired asset. (If no entry is required for a Entry Required in the first account field.) 50,000 0000 o Prev 7Next