Question 1 of 6 > /1 HII View Policies Current Attempt in Progress Presented below is information related to equipment owned by Sheridan Company at December 31, 2020. Cost Accumulated depreciation to date Expected future et cash flows Fair value $9,630,000 1.070,000 7,490,000 5,136,000 Assume that Sheridari will continue to use this set in the future. As of December 31, 2020, the equipment has a remaining useful ide of 4 years Prepare the journal entry of any to record the impairment of the stat December 31, 2020. (no try is requiredselect "No entry for the account titles and enter for the amounts. Credit account titles are otomatically indented when amount is entered. Do notIndent monte) Account Titles and Explanation Debit Credit Dec 31 Date e Textbook and Media List of Accounts Prepare the journal entry to record deprecations for 2021.0o entry is requirint select "No entry for the account titles Question 1 of 6 1/1 Prepare the journal entry to record depreciation experise for 2021. (no entry is required, select "No entry for the account titles and enter for the amounts Credit account titles are automatically Indented when amount is entered. Do not Indent manually) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts The fair value of the equipment at December 31, 2021.is $5,457,000. Prepare the journal entry of any) necessary to record this increase in fair value. Of no entry is required, select "No entry for the accounts and enter for the amounts. Oudit account titles are automatically Indented when amount is entered. Do not indent manually Date Account Titles and Explanation Debit Credit Dec 31 Textbook and Media List of Accounts