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Wickum Corporation reports under IFRS, and recognized a $580,000 other-than-temporary impairment of an HTM debt investment in Right Corporation. Subsequently, the fair value of Wickum's
Wickum Corporation reports under IFRS, and recognized a $580,000 other-than-temporary impairment of an HTM debt investment in Right Corporation. Subsequently, the fair value of Wickum's investment in Right increased by $396,000.
Prepare the journal entry to account for the increase in fair value.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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