Exercise 12-18 The following information is for a copyright owned by Blue Spruce Corp., a publicly accountable entity, at December 31, 2020. Blue Spruce Corp. applies IFRS. Cost Carrying amount Expected future net cash flows (undiscounted) Fair value $4,322,000 2,164,000 2,017,000 1,592,000 Assume that Blue Spruce Corp. will continue to use this copyright in the future. As at December 31, 2020, the copyright is estimated to have a remaining useful life of 10 years. The copyright's value in use is $1,815,000 and its selling costs are $128,000. Prepare the journal entry, if any, to record the asset's impairment at December 31, 2020. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the journal entry to record amortization expense for 2021 related to the copyright. (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 o for the amounts.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT The copyright's fair value at December 31, 2021, is $2.4 million. Prepare the journal entry, if any, to record the increase in fair value. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2021