Exercise 12-18 The following information is for a copyright owned by Bramble Corp., a publicly accountable entity, at December 31, 2020. Bramble Corp. applies IFRS. Cost $4,301,000 Earrying amount 2,176,000 Expected future net cash flows (undiscounted) 2,027,000 Fair value 1,543,000 Assume that Bramble 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 8 years. The copyright's value in use is $1,845,000 and its selling costs are $110,000 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 eviter o for the amounts.) Account Titles and Explanation Debat Credit Prepare the four entry to record amortization penge for 2021 related to the copyright (Cradle account elles are automatically indented when the amount to entered. Do not intent If no is requiredselect "No Entry" ) Account Titles and Explanation Debit Credit SHOW UNT OF ACCOUNTS LINK TO TOIT LINK TO TEXT The copyright's fair value at December 31, 2021, Is $2.3 million. Prepare the journal entry, if any, to record the increase in fair value. (Credit account tities are automatically indented when 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.) Debat Credit Date Account Titles and Explanation Dec 31, 2021