Question: Please, only answer if you have the CORRECT ANSWER to the question. if your answer is wrong or irrelevant, I will REPORT it to Chegg
Information has been collected regarding Orange Company's cash-generating unit that includes goodwill. At 31 December 205, the assets of the Orange Company's cash-generating unit are shown as follows (in millions) on the company's SFP: An impairment test indicates that the recoverable amount assigned to the assets of this CGU is $4,000 million. The assets are not separable-they must be operated or sold together as a group. Required: 1. Prepare an adjusting journal entry to record the impairment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate percentage answers to the nearest whole number (i.e. 0.12 should be considered as 12% ) and final answers to the nearest whole dollar amount. Enter the amounts in millions.)
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