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help ASAP Question 4 4 pts Russell Wilson Inc. owns equipment for which it paid $160,000. At the end of 2023, it had accumulated depreciation
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Question 4 4 pts Russell Wilson Inc. owns equipment for which it paid $160,000. At the end of 2023, it had accumulated depreciation on the equipment of $28,000. Due to adverse economic conditions, Russell Wilson's management determined that it should assess whether an impairment should be recognized for the equipment. The estimated undiscounted future cash flows to be provided by the equipment total $64,000, and the equipment's fair value at that point is $43,000. In the journal entry to record impairment, the total of all the accounts debited will be what amount? (Enter zero if there is no journal entry needed.) Question 5 4 pts Buckee's started selling gift cards in February 2024 and sold $65,500 in gift cards during the remainder of the year. It is known that a small and relatively stable percentage of gift cards will never be redeemed referred to as "breakage." Estimated breakage revenue is recognized over time in proportion to actual gift card redemptions. Drawing from industry norms, Buckee's expects that 86% of gift cards will be redeemed. By the end of 2024, $42.100 in gift cards had been redeemed. What is Buckee's remaining gift card liability that will be reported on December 31, 2024? 4 pts Question 6 Step by Step Solution
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