The management of Marin Inc., a small private company that uses the cost recovery impairment model, was discussing whether

certain equipment should be written down as a charge to current operations because of obsolescence. The assets had a cost of

$$820,000,$ and depreciation of $$320,000$ had been taken to December $31,2023.$ On December $31,2023,$ management projected the

undiscounted future net cash flows from this equipment to be $$370,000,$ and its fair value to be $$250,000.$ The company intends to

use this equipment in the future.

$($a$)$

Prepare the journal entry, if any, to record the impairment at December $31,2023.($Credit account titles are automatically indented

when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry$$ for the account titles and enter O for the

amounts. List debit entry before credit entry.$)$ b$)$ At December $31,2024,$ the equipment$$s fair value increased to $$290,000.$ Prepare the journal entry, if any, to record this increase

in fair value. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required,

select $"$No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.$)$ c$)$Assume instead that, as at December $31,2023,$ the equipment was expected to have undiscounted future net cash flows of

$$520,000,$ and that its fair value was estimated to be $$450,000.$ Prepare the journal entry to record the impairment at December

$31,2023,$ if any. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is

required, select $"$No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.$)$ d$)$Assume instead that, as at December $31,2023,$ the equipment was expected to have undiscounted future net cash flows of

$$45,000$ per year for each of the next $10$ years, and that there is no active market for the equipment. Marin uses a $10\%$ discount

rate ints cash flow estimates. Prepare the journal entry to record impairment at December $31,2023,$ if any.