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Matador & Company was preparing the annual financial statements and, as part of its year-end procedures, prepared the following schedule based on adjusted values at

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Matador & Company was preparing the annual financial statements and, as part of its year-end procedures, prepared the following schedule based on adjusted values at March 31, 2020: Asset Cost Accumulated Depreciation $20,000 $1,000 Recoverable Amount $15,000 Furniture Computer Land Machine $25,000 $2,000 $105,000 $90,000 $125,000 $25,000 $45,000 Record the entry for any impairment loss assuming that Matador & Company recorded no impairment losses in previous years

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