Question 33 2 pts When an asset is impaired the amount of loss recorded Book value plus fair value Book value minus fair value Asset cost minus residual value Book value minus accumulated depreciation Question 34 2 pts Wiley Company purchased new equipment for $55,000. Wiley paid cash for the equipment. Other costs associated with the equipment were: shipping costs, $2,700; sales tax paid $2,500; and installation cost, $2,400. The cost recorded for the equipment was: $57,700 $62,600 $60,200 Oo $55,000