safety

Safety-First Company completed all of its October 31, 2023, adjustments in preparation for preparing its financial statements, which resulted in the following trial balance. Other information: 1. All accounts have normal balances. 2. $28,400 of the note payable balance is due by October 31,2024. Other information: 1. All accounts have normal balances. 2. $28,400 of the note payable balance is due by October 31,2024 . The final task in the year-end process was to assess the assets for impairment, which resulted in the following schedule. Required: 1. Prepare the entry (entries) to record any impairment losses at October 31, 2023. Assume the company recorded no impairment losses in previous years. (If no entry is required for a transaction, select "No journal entry required" in the first account field.) Journal entry worksheet Record impairment loss on equipment. Note: Enter debits before credits. 2. Prepare a classified balance sheet at October 31, 2023. (Be sure to list the current assets in the order of liquidity and fixed assets in order of land, building, equipment, and furniture. Enter all amounts as positive values.)