Calculate the amount accordance to ASPE

han or Create an int 6. Chapter 12-2 Question 4 of 5 2.86/4 At the end of 2020, Monty Corporation owns a licence with a carrying amount of $519,000. Monty expects undiscounted future cash flows from this licence to total $524,800. The licence's fair value is $414.500 and disposal costs are estimated to be nit. The licence's discounted cash flows (that is value in use) are estimated to be $467,600. Assume that the licence was granted in perpetuity and has an indefinite life, and that Monty prepares financial statements in accordance with ASPE. Assume that the licence was granted in perpetuity and has an indefinite life. (a) Your answer is partially correct. Determine if the licence is impaired at the end of 2020. The licence is impaired at the end of 2020 ENG G Question 4 of 5 2.8674 Prepare any related entry that is necessary. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Loss on Impairment 51400 Accumulated Impairment Losses-Ucences 51400 eTextbook and Media List of Accounts Sort for Later Attempts: 2 of 3 used Submit Answer ENG TO 1