Norton, inc. purchased equipment in 2013 at a cost of $800,000. two years later it became apparent to norton, inc. that this equipment had suffered an impairment of value. in early 2015, the book value of the asset is $520,000 and it is estimated that the fair value is now only $320,000. the entry to record the impairment is
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Norton, inc. purchased equipment in 2013 at a cost of $800,000. two years later it became apparent to norton, inc. that this equipment had suffered an impairment of value.
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