Playtime Corporation purchased a new piece of equipment for production of a newchildren's toy. According to market research tests, the toy is expected to bevery popular among preschool-aged children. Theequipment consistsof the following significant and separable parts: injection unit (useful life of six years), clamping unit (useful life of six years), and electrical equipment (useful life of threeyears). Theequipment also includes other parts (useful life of fiveyears). Criscuss the recognition criteria for recording the purchase of the equipment. ETextbook and Media Cigcuss how the equipment purchase should be recorded if Playtime prepares financial statements in accordance with IFRS. Discuss how theequipment purchase should be recorded if Playtime prepares financial statements in accordancewith AsPE