A B AND C

Presented below is information related to equipment owned by Blossom Company at December $31,2025.$

Your answer is incorrect.

Prepare the journal entry to record depreciation expense for $2026.($If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.$)$

$\backslash$table$[[$Account Titles and$],[$Explanation$],[],[$Lerextbook and Media$],[$List of Accounts$]]$

Attempts: unlimited

$($c$)$

Your answer is incorrect.

The fair value of the equipment at December $31,2026,$ is $$6,273,000.$ Prepare the journal entry $($if any$)$ necessary to record this increase in fair value. $($If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. Credit account. titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.$)$

Date Account Trites and Explanation

Debit

Credit

Dec. $q,31$

Date

Account Titles and Explanation

Debit

Credit

Dec.

Loss on Impairment $31$

Accumulated Depreciation $-$ Equipment