Question 17 (5 points) Anthony Corp. operates a franchise under an agreement that can be renewed indefinitely with the franchisor. At December 31, 2020, the carrying value of the franchise is $8,000,000. Its future expected net cash flows is $9,500,000, and its fair value is $5,880,000. Instructions: Prepare the journal entry, if necessary, to record the impairment of the franchise on December 31, 2020. If no entry is necessary, type "no entry." Journal entry format: Input journal entries using the sample format shown below. Date all journal entries, but omit journal entry descriptions. Do not compose sentences. Dec. 31, debit Cash $100, credit Common Stock $100