Question 2 [60 points] Gulf Corp. completed all of its September 30, 2015, adjustments in preparation for preparing its financial statements, which resulted in the following adjusted trial balance. Adjusted Trial Balance Accounts payable.. Accounts receivable Accumulated depreciation, building.. $4,800 9,000 33,000 Accumulated depreciation, equipment. 17,300 a) Prepare the entry (entries) to record any impairment losses at September 30, 2015. Assume the company recorded no impairment losses in previous years. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and - for decrease. For example, if an account decreases equity, choose '-Equity'. General Journal Account/Explanation Page GJ1 F|Debit Credit Effect On Balance Sheet Date Accumulated depreciation, furniture... 9,200 Allowance for doubtful accounts, 390 Building 59,000 Cash 5,010 Equipment 39,000 Expenses, including cost of goods sold 344,000 Furniture 26,000 Share capital 26,400 Land 46,000 Merchandise inventory. 15,900 Long-term notes payable. 37,000 Retained earnings.. 37,000 Sales 375,210 Unearned revenue 3,610 1) All accounts have normal balances. 2) $11,900 of the note payable balance is due by September 30, 2016. The final task in the year-end process was to assess the assets for impairment, which resulted in the following schedule. Asset Recoverable Value Land $49,100 Building 25,000 Equipment 23,800 Fumiture... 19,900 Official Time: 16:13.30 b) Prepare a classified balance sheet at September 30, 2015. (select one) Balance Sheet (select one) SUBMIT AND MARK SAVE AND CLOSE