M9-8 Recording Asset Impairment Losses [LO 9-4, LO 9-5) After recording depreciation for the current year, Media Manla incorporated decided to discontinue using its printing equipment. The equipment had cost $750,000, accumulated depreciation was 5550,000, and its fair value (based on estimated future cash flows from selling the equipment) was $50,000 1. Determine whether the equipment is impaired. 2. Prepare the journal entries to record the impaired asset Complete this question by entering your answers in the tabs below. Required Required 2 Determine whether the equipment impaired. and the book valuna Journal entry worksheet Record the entry to remove accumulated depreciati Note Enter debits before credits Transaction General Journal - Clear entry Journal entry worksheet Record the impairment loss. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal M9-8 Recording Asset Impairment Losses [LO 9-4, LO 9-5) After recording depreciation for the current year, Media Manla incorporated decided to discontinue using its printing equipment. The equipment had cost $750,000, accumulated depreciation was 5550,000, and its fair value (based on estimated future cash flows from selling the equipment) was $50,000 1. Determine whether the equipment is impaired. 2. Prepare the journal entries to record the impaired asset Complete this question by entering your answers in the tabs below. Required Required 2 Determine whether the equipment impaired. and the book valuna Journal entry worksheet Record the entry to remove accumulated depreciati Note Enter debits before credits Transaction General Journal - Clear entry Journal entry worksheet Record the impairment loss. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal