The following information is for a copyright owned by Whispering Winds Corp., a private entity, at December 31, 2020. Whispering Winds Corp. applies ASPE. Cost Carrying amount Expected future net cash flows (undiscounted) Fair value $4,334,000 2,144,000 2,044,000 1,597,000 Assume that Whispering Winds 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 8 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 Account Titles and Explanation Debit Credit Dec. 31, 2020 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 Debit Credit e Textbook and Media List of Accounts The copyright's fair value at December 31, 2021, 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 O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2021