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Provide a journal entry for a transaction

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Question - Provide a journal entry for a transaction - On September 30, 2021, the company determines that they must test some of their computer equipment for impairment due to technological advances (this equipment has a gross book value of $122,500). The company intends to continue using the equipment in its core business. The company has a cost of capital of 6% and the management estimates the future net cash flows associated with using the equipment will be $27,000 per year for two more years. There is no active market for comparable equipment.

Reference no: EM133059477

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