After recording depreciation for the current year, Media Mania Incorporated decided to discontinue using its printing equipment The equipment had cost $736,000 accumulated depreciation was $512.000, and its fair value (based on estimated future cash flows from selling the equipment) was $34,000 1 Determine whether the equipment is impaired. 2. Prepare the journal entries to record the impairment in asset if any Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine whether the equipment is impaired. and the book value is Therefore this value i Required 2 Required 1 Required 2 Prepare the journal entries to record the impairment in asset if any. (If no entry is required for a trans Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry to remove accumulated depreciation. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the impairment loss. Note: Enter debits before credits. Transaction General Journal Debit Credit