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A non-current asset with a carrying value of $160m was impaired and written down to its recoverable value of $120m two years ago. After an

A non-current asset with a carrying value of $160m was impaired and written down to its recoverable value of $120m two years ago. After an upturn in business, the asset has a current market value of $135m. Had the impairment not taken place, the carrying value of the asset would have been $130m now.

Prepare the journal entry for the impairment reversal.

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