Exercise 7.20 A large manufacturing company, St. George Ltd, has its operations in Newcastle. It has two cash-generating units, Red Unit and Dragon Unit. At 30 June 2019, the management of the company decided to conduct impairment testing. It calculated that the recoverable amounts of the two divisions were $1,243,900 (Red Unit) and $930,300 (Dragon Unit). In considering the assets of the cash-generating units the company allocated the assets of the corporate area equally to the units. The carrying amounts of the assets and liabilities of the two cash-generating units and the corporate assets at 30 June 2019 were as follows: Dragon Unit Corporate Red Unit $ 960,100 Equipment Accumulated depreciation (Equipment) (360,500) $ 449,800 Land 269,900 $ 630,400 Buildings 330,200 419,800 (120,100) (180,400) (150,400) Accumulated depreciation (Buildings) Furniture and fittings 90,100 Accumulated depreciation (Furniture and fittings) (30,100) Goodwill 42,000 Cash 36.300 24,100 Inventories 90,000 119,800 Receivables 60,400 23,800 1,266,300 59,600 916,900 522,000 Total assets Provisions 120,200 Debentures 89,600 197,500 317,700 599,200 Total liabilities 149, 200 $1,117,100 Net assets In relation to these . the receivables of both units were considered to be collectable .the receivabl es of both units were considered to be collectable the land held by the Dragon Unit had a fair value less costs of disposal of $404,600. Required Prepare the journal entries required at 30 June 2019 to account for any impairment losses. (Round your final answers to the nearest whole number. Enter debit entries first, follo wed by credit entries. Credit account titles are automatically inden ted when the amount is entered. Do not indent manually.) ACCount and explanation Debit Credit (Recognition of impairment loss for corporate goodwill) (Recognition of impairment loss for corporate building) (Recognition of impairment loss for Red Unit) (Recognition of impairment loss for Red Unit) (Recognition of impairment loss for Dragon Unit)