During 20x7. Omega Corp. signed a contract with Alpha Inc. to purchase 17.000 subassemblies at $165 each during 20x8. Required: 1. Not available in connect 2. Assume that the cost of the subassemblies is dropping and the total estimated current replacement cost is $2584.000. What contractual and economic conditions would require accrual of a loss? Give the accrual entry. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) View transaction list Journal entry worksheet