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Business, 02.08.2019 19:20 athenadailey8717

Erie corporation owns machinery with a book value of $2,200,000. it is estimated that the machinery will generate future cash flows of $1,995,000. the machinery has a fair value of $1,915,000. the journal entry to record the impairment loss )record a discontinued operations loss of $80,000.(b)increase the asset's accumulated depreciation account by $285,000.(c)reduce income from continuing operations by $205,000.(d)include a $285,000 credit to the asset account.

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