A1 for Prepare the journal entry to record the impairment loss (show all supporting computations), B Prepare the journal entry to record the impairment loss (show all supporting computations). (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab 2 you will be marked wrong. Use cell references from prior calculations, if applicable.) 3 Discounted Cash Flow 4 5 6 Future Period Year 1 Year 2 Year 3 Year 4 Total 7 8 9 10 11 Accounts Debit Credit 12 13 15 16 17 18 19 20 21 22 28 25 26 27 28 29 30 com video you need to eat it safe to stay in Protected View Enablo Editing Al Long-Term Operating Assets: Departures from Historical Cost D 1 Long-Term Operating Assets: Departures from Historical Cost 2. Finite-Life Intangible Asset Impairment 3 Fredrick Wilson Company determined that one of its finite-life intangible assets is impaired. The following information is 4 given: 5 Asset's net carrying value on the $905,000 6 date of the impairment 7 Discount rate 8.00% 8 Fredrick Wilson does not use a separate accumulated amortization account. In order to estimate fair value, Fredrick Wilson g must use the discounted cash-flow model. The company projected the asset's future cash flows as follows. 10 11 Future Period Cash-Flow Projection 12 Year 1 $400,000 Year 2 250,000 Year 3 140,000 15 Year 4 60,000 16 Total $850,000 13 Is Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the instruction tab 19 you will be marked wrong. 20 21 Requirement 22 Prepare the journal entry to record the impairment loss (show all supporting computations) Enter the answers as positive values. Check your spelling carefully and do not abbreviate. Record debits first, then credits. Exclude explanations from journal entries. 26 Use cell references from prior calculations, if applicable. b. d