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Business, 01.07.2021 18:20 jonestmoney381

Jurassic Company owns machinery that cost $900,000 and has accumulated depreciation of $380,000. The expected future net cash flows from the use of the asset are expected to be $500,000. The fair value of the machinery is $400,000.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. Credit account titles are automatically indented when amount is entered. Do not indent manually.)Account Titles and Explanation Debit Credit

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Jurassic Company owns machinery that cost $900,000 and has accumulated depreciation of $380,000. The...
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