BE10.5 (L03) Garcia Corporation purchased a truck by issuing an $80,000. 4-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 10%. Prepare the journal entry to record the purchase of this truck. Corneration for a vi application E11.16 (LO 3) (Impairment) Presented below is information related to equipment owned by a Suarez Company at December 31, 2020. Cost Accumulated depreciation to date Expected future net cash flows Fair value $9,000,000 1,000,000 7,000,000 4,800,000 Assume that Suarez will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years. Instructions a. Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020. b. Prepare the journal entry to record depreciation expense for 2021. c. The fair value of the equipment at December 31, 2021, is $5,100,000. Prepare the journal entry (if any) necessary to record this increase in fair value