IFRS 11-11 Presented below is information related to equipment owned by Bonita Company at December 31, 2020. Cost (residual value $0) Accumulated depreciation to date Value-in-use Fair value less cost of disposal $9,076,800 1,007,900 5,554,000 4,417,770 Assume that Bonita will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 8 years. Bonita uses straight-line depreciation. Your answer is partially correct. Try again. Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 317 1 TLoss on Impairment 3,651,130 Accumulated Depreciati 3,651,130