Information has been collected regarding Orange Companys cash-generating unit that includes goodwill. At 31 December 20X5, the assets of the Orange Companys cash-generating unit are shown as follows (in millions) on the companys SFP: Cost Accumulated Depreciation Net Book Value Goodwill $ 950 $ 0 $ 950 Equipment 3,150 2,080 1,070 Building 4,730 1,550 3,180 Patent rights 290 210 80 $ 9,120 $ 3,840 $ 5,280 An impairment test indicates that the recoverable amount assigned to the assets of this CGU is $4,250 million. The assets are not separablethey must be operated or sold together as a group. Required: 1. Prepare an adjusting journal entry to record the impairment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate percentage answers to the nearest whole number (i.e. 0.12 should be considered as 12%) and final answers to the nearest whole dollar amount. Enter the amounts in millions.) 2. This part of the question is not part of your Connect assignment.

Information has been collected regarding Orange Company's cash-generating unit that includes goodwill. At 31 December 205, the assets of the Orange Company's cash-generating unit are shown as follows (in millions) on the company's SFP: An impairment test indicates that the recoverable amount assigned to the assets of this CGU is $4,250 million. The assets are not separable-they must be operated or sold together as a group. Required: 1. Prepare an adjusting journal entry to record the impairment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate percentage answers to the nearest whole number (i.e. 0.12 should be considered as 12% ) and final answers to the nearest whole dollar amount. Enter the amounts in millions.)