For each of the following scenarios, indicate whether a long-term asset has been impaired (y for yes and N for no) and, if so, the amount of the loss that should be recorded. Prepare any necessary journal entry (Click the icon to view the scenarios.) Prepare the necessary journal entries for any impairment. (Record debits first, then credits. Explanations are not required. If no journal entry is required, select "No entry required" on the first line of the journal entry. Leave unused cells blank.) a. Equipment Journal Entry Accounts Date Debit Credit b. Trademark Scenarios Date Impaired? Amount (Y or N) of Loss Fair Value Asset a. Equipment b. Trademark C. Land d. Factory building Carrying Amount $150,000 $370,000 562 000 $7 million Value in Use $110.000 5510,000 $34,000 $7 million $70,000 $425,000 $31,000 $5 million e Land Date Print Done d. Factory building Journal Entry Accounts Date Debit Credit