View Policies Current Attempt in Progress The following information is for a copyright owned by Flounder Corp. a private entity, at December 31, 2020. Flounder Corp. applies ASPE. Assume that Flounder Corp. will continue to use this copyright in the future. As at December 31,2020 , the copyright is estimated to have a remaining useful life of 8 years. Prepare the journal entry, if any, to record the asset's impairment at December 31, 2020. (Credit occount titles are outomatically Indented when the amount is entered. Do not indent manually. If no entry is required, seiect "No Entry" for the account tities and enter O for Prepare the journal entry to record amortization expense for 2021 related to the copyright. (Credit occount tities dre dutconselcalil indented when the amount is entered. Do not indent menualis If no enity Is required, select "No Entry" for the occount tities and enter O for the omounts.) The copyright's fair value at December 31,2021 , is $2.4 million. Prepare the journal entry, if any, to record the increase in fair value. (Credit occoount 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)