Please answer both the questions.

Frater Corporation uses a periodic inventory system. During October, the following transactions occurred: Oct 3 Purchased $32,000 of merchandise on credit, terms 4/10, n/30. 6 Returned $3,200 of the goods purchased on Oct 3. 7 Paid freight charges of $500 for goods purchased on Oct 3. 12 Paid for the goods purchased on Oct 3. Instructions Prepare journal entries to record the above transactions. Please use the spreadsheet provided to complete your work. Paste the link in the response area below. Coquitlam Corporation, a publicly-traded company, purchased a piece of equipment on January 1, 2021, for $275,000. It has an estimated useful life of eight years and a $25.000 residual value. Coquitlam uses straight-line depreciation and has a December 31 year end. At December 31, 2022. the equipment had a recoverable value of $200.000. Instructions a) Calculate the equipment's carrying amount at December 31, 2022. b) Calculate the amount of the impairment loss at Dec 31, 2022. c) Where should the impairment loss be reported in the financial statements? Please use the spreadsheet provided to complete your work. Paste the link in the response area below