On March $31,2023,$ Panda Co$.$ assessed its assets for impairment as part of its year$-$end procedures. It was found that equipment had a recoverable value of $$15,000,$ a remaining useful life of three years and salvage $($residual$)$ value of zero. The March $31,2023$ adjusted trial balance showed that the equipment had a cost of $$102,000$ and accumulated depreciation of $$54,000.$ Panda recorded no impairment losses in previous years.

Record the impairment loss at March $31,2023$:

On March $31,2023,$ Panda Co$.$ assessed its assets for impairment as part of its year$-$end procedures. It was

found that equipment had a recoverable value of $$15,000,$ a remaining useful life of three years and salvage

$($residual$)$ value of zero. The March $31,2023$ adjusted trial balance showed that the equipment had a cost

of $$102,000$ and accumulated depreciation of $$54,000.$ Panda recorded no impairment losses in previous

years.

Record the impairment loss at March $31,2023$:

Record the revised depreciation expense at March $31,2024($the following year$).$