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Windsor Inc. owns equipment that cost $526,000 and has accumulated depreciation of $136,000. The expected future net cash flows from the use of the asset
Windsor Inc. owns equipment that cost $526,000 and has accumulated depreciation of $136,000. The expected future net cash flows from the use of the asset are expected to be $348,000. The fair value of the equipment is $301,000. Prepare the journal entry, if any, to record the impairment loss. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.
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