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please annswer the part c (c)the fair value of the equipment iat december31 2015 is $5,712,000 prepare the journal entry to record the increase fair
please annswer the part c
(c)the fair value of the equipment iat december31 2015 is $5,712,000 prepare the journal entry to record the increase fair value.
I know it should be no entry but I didn't know the amount for debit and credit in journal entry
Presented below is information related to equipment owned by Coronado Company at December 31,2025. Assume that Coronado will continue to use this asset in the future. As of December 31,2025 , the equipment has a remaining useful life of 5 years. (a) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.)Step by Step Solution
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