PLEASE READ BEFORE YOU ANSWER:

NOT OTT impairment loss - I/S for either DEBIT or CREDIT.

Report under IFRS, not GAAP. thanks,

Brief Exercise 12-20 Recovery of impairments under IFRS (Appendix 12B) [LO12-3, 12-8,12-9] Wickum Corporation reports under IFRS, and recognized a $500,000 other-than-temporary impairment of an HTM debt investment in Right Corporation. Subsequently, the fair value of Wickum's investment in Right increased by $300,000. Prepare the journal entry to account for the increase in fair value. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the increase in fair value. Note: Enter debits before credits. Event General Journal DebitCredit 300,000 300,000 Record entry Clear entry View general jourmal