Annood Company owns land that it purchased at a cost of $700,000 in 2018. The land's recoverable value fluctuate as follows (all amounts as of December 31): 2018, $680,000; 2019, $720,000. The journal entry to record impairment of the land in 2019 would be: a. Debit land account, $20,000, credit impairment loss recovery, $20,000 b. Debit impairment loss account, $20,000; credit land account, $20,000 Oc. Debit land account, 40,000; credit impairment loss recovery, $40,000 Od. No entry is required under IFRS 16.