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Equipment has a book value of $30,400 and a fair value of $28,025. The decline in value meets the two-step impairment test. Prepare the entry
Equipment has a book value of $30,400 and a fair value of $28,025. The decline in value meets the two-step impairment test. Prepare the entry to record this $2,375 impairment. View transaction list Journal entry worksheet A Record the impairment loss of $2,375 for the equipment Note: Enter debits before credits Debit Credit Transaction General Journal 1 View general Journal Record entry Clear entry
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