5. help please

Data table Cutting Machine $ $ Description Cost Accumulated depreciation (up to the date of the impairment test) Total estimated future cash flows Total discounted future cash flows Estimated fair value $ $ 3,222,000 1,286,000 1,223,000 1,066,000 1,060,000 3,000 $ $ Costs to sell Remaining useful life from the impairment date 6 years Print Done 10 years and it has used it for 4 years. It has no salvage value. Requirements a. Prepare the journal entry required to record the impairment loss. b. Assuming that Turner's uses the straight-line method with no residual value, prepare the journal entry to record the revised depreciation expense for the first year immediately following the impairment. c. Assume that 2 years following the impairment write-down, the fair value (less the costs to sell and value in use of the asset falls to $731,000. Prepare any journal entry necessary to reflect the change in fair value. Print Done Homework: Chapter 12 Exercises Question 5, E12-7 (simil... HW Score: 0%, 0 of 14 points Part 1 of 3 Points: 0 of 3 Save tuner Domino Manutacturing Company, an IFRS reporter learned that one of its cutting machines is obsoleto. Although the company will continue to use this machinery in the futuro, management blevet to write-down is required. The following information relates to the cutting machine (ick the icon to view the information) The fomestierates that the machine has a useful to of 10 years and it has used it for 4 years. It has no savage value 4 Read the Requirementa. Prepare the journal entry required to record the impormentos. Record debits first, then credits Exclude explorations from any oumatontie Round your answer to the nearest whole Account Date of impairment