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Question 2 (10 marks) Jessup Corporation's balance sheet includes the following asset: Equipment $95,000 Accumulated depreciation: (25,000) Carrying amount $70,000 After performing its annual review for impairment, Jessup obtains the following data: Asset value in use: $58,000 Fair value less selling costs: $62,000 Required Assuming Jessup uses the rational entity impairment model, A. Calculate the recoverable amount. (3 marks) B. Calculate the impairment loss. (3 marks) C. Prepare the entry to record the impairment loss. (4 marks)