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. EE (Click the icon to view the scenarios.) Impaired (Y Amount of Asset Carrying Amount Value in Use Fair Value or N) Loss a. Equipment $220,000 $180,000 $140,000 b. Trademark $330,000 $470,000 $385,000 $56,000 $28,000 $25,000 d. Factory building $7 million $7 million $ $5 million 5 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 C. Land Date Accounts Debit Credit -X Scenarios Carrying Amount $220,000 Impaired? Amount of (Y or N) Loss Asset b. Trademark Value in Use $180,000 $ $470.000 Fair Value $140,000 $385,000 $25.000 Date Accounts Debit Credit a. Equipment b. Trademark c. Land d. Factory building $330,000 $28,000 $56,000 $7 million $7 million $ $5 million c. Land Print Done Date Accounts Debit Credit d. Factory building Date Accounts Debit Credit