The following information is for a copyright owned by Bridgeport Corp, a publicly accountable entity, at December 31, 2020. Bridgeport Corp applies IFRS Cost $4,304,000 Carrying amount 2174,000 Expected future net cash flows (undiscounted) 2,043,000 Fair value 1,517,000 Assume that Bridgeport Corp. will continue to use this copyright in the future. As at December 31, 2020, the copyright is estimated to have a remaining useful life of 10 years. The copyright's value in use is $1,882,000 and its selling costs are $118,000 Prepare the journal entry, if any, to record the asset's impairment at December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Dec 31, 2020 eTextbook and Media List of Accounts Debit Credit Prepare the journal entry to record amortization expense for 2021 related to the copyright. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit The copyright's fair value at December 31, 2021, is $2.5 million. Prepare the journal entry, if any, to record the increase in fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31, 2021 eTextbook and Media List of Accounts Debit Credit