The following information is for a copyright owned by Monty Corp., a private entity, at December 31, 2020. Monty Corp. applies ASPE Cost Carrying amount Expected future net cash flows (undiscounted) Fair value $4,305,000 2,171,000 2,034,000 1,798,000 Assume that Monty 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. (a) 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 0 for the amounts.) and Explanation Debit Credit Date Account Dec. 31, 2020