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terhand at sino 05 duo wood bibmas Presented below is information related to equipment owned by Cheatem Company at $5,600,000 Suive 000.00 Accumulated depreciation to date 00.5 000,000 December 31, 2021 900 Cost 8 000,000 440,000 Expected future net cash flows 00:08 4,000,000 Fair value 0.00% 900,00 2,720,000 Answer the following questions and show your work (5 points) (A) Will Cheatem be required to record an impairment loss on the equipment? Why? (B) What journal entry (if any) would be required to record the loss