Kelly Abstract Inc. follows IFRS, has a Dec 31 year-end & has a machine it paid $60,000 for on Jan. 1, 2019. As at Dec 31, 2020, it has a book value of $40,000 and is being depreciated using the straight-line method. The discounted value in use future net cash flows are $20,000, costs to sell would be $2,000 & the fair value is $23,500. 1. If there is impairment at the end of 2020, what is the title of the account that would be debited? 2. If not o, how much would the impaired amount be? 3. What will be the 2021 depreciation? 4. Assuming Kelly followed ASPE & the fair value of the asset has risen to $35,000 by the end of 2021, how much would my debit entry be for? A A/ AJ