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Walking Company thinks that they may have an impairment of one of the most valuable pieces of equipment they own. The cost of the equipment
Walking Company thinks that they may have an impairment of one of the most valuable pieces of equipment they own. The cost of the equipment is $2,000,000 dollars and the accumulated depreciation is $400,000. The future cash flow of the equipment is estimated at $1,400,000. The fair value of the equipment is $1,300,000. Please determine if an impairment has happened and make any necessary journal entries if one has
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