Exercise 21-13 (Part Level Submission) Corbeil Limited, a private company following ASPE, disposed of some assets during the fiscal year ended December 31, 2020. Based on the research done by the assistant controller, journal entries were made and the following first draft of the income statement was prepared. As controller, you have determined that the assets disposed of do not qualify for treatment as a discontinued operation. $2,360,000 590,000 1,770,000 Income from continuing operations before income tax Income tax expense Income from continuing operations Discontinued operation: Loss from disposal of discontinued division (net of $40,000 income tax recovery) Net income 120,000 $1,650,000 (a) Your answer is partially correct. Try again. Prepare the general journal entry, if any, that Corbeil should make 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.) Account Titles and Explanation Debit Credit Loss on Disposal of Assets 40000 Accumulated Depreciati 800001 (To correct for error in recording of disposal.) Attempts: 3 of 6 used SAVE FOR LATER SUBMIT ANSWER (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above