The following information is for a copyright owned by Sheffield Corp., a publicly accountable entity, at December 31, 2017. Sheffield Corp. applies IFRS Cost Carrying amount Expected future net cash flows (undiscounted) 2,013,000 Fair value $4,329,000 2,159,000 1,501,000 Assume that Sheffield Corp. will continue to use this copyright in the future. As at December 31, 2017, the copyright is estimated to have a remaining useful life of 10 years. The copyright's value in use is $1,865,000 and its selling costs are $123,000 Prepare e journal entry any, to record the asset's impairment at December 3, 2017 Credit account tit es are automatical ,in ente no entry is required, select "No Entry" for the account titles and enter O for the amounts.) when the amount is entered Conti a ent manual Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Prepare the journal entry to record amortization expense for 2018 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 0 for the amounts. Round answers to 0 decimal places, e.g. 1525.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT The copyright's fair value at December 31, 2018, is $2.2 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 0 for the amounts. Round answers to O decimal places, e.g. 1525.) Date Account Titles and Explanation Debit Credit Dec. 31, 2018