Question 26 3 pts A company has some bottling equipment which cost $10.90 million, has a net book value of $5.30 million, estimated future cash flows of $3.94 million and a fair value of $3.34 million, Which of the following correctly describes the recording of the asset impairment loss? The loss account is debited for $7.56 million and the asset account is credited for $7.56 million The loss account is debited for $6.96 million and the asset account is credited for $6.96 million The loss account is debited for $1.96 million and the asset account is credited for $1.96 million. The loss account is debited for $1.36 million and the asset account is credited for $1.36 million