The following information is for a copyright owned by Culver Corp., a private entity, at December 31, 2020. Culver Corp. applies ASPE. Cost $4,314,000 Carrying amount 2,176,000 Expected future net cash flows (undiscounted) 2,031,000 Fair value 1,712,000 Assume that Culver 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. 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 Dec. 31, 2020 Account Titles and Explanation 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 Dec. 31, 2021 Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit