Food Inc., a public company, has a machine that processes and packages tuna in oil. This machine

cannot be used for any other purpose. The machine originally cost $$200,000$ and is being amortized

on a straight$-$line basis over $20$ years. The carrying amount of the machine on December $31,2022,$

is $$40,000.$ Recent health studies have shown that due to contamination, eating tuna is bad for your

health. Undiscounted cash figs for the machine are $$44,000.$ Discounted cash flows for the

machine are $$34,000.$ The machine is unique; therefore, fair value cannot be determined.

PART A: Prepare the journal entry to reflect the impairment of the machine on December $31,2022.|$

PART B: At the beginning of $2023,$ new evidence comes out rebutting the evidence that tuna is bad

for your health. In fact, studies have shown it is very healthy to eat fish. The company has also been

able to package the tuna in water instead of oil. Provide the entry to reverse impairment on

December $31,2023,$ it appropriate $($if no entry, state $\text{'}$no entry$).$