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Assume the recoverable amount under ASPE (undiscounted future cash flows) is calculated to be $521,000...

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Accounting

Assume the recoverable amount under ASPE (undiscounted future cash flows) is calculated to be $521,000 at the end of 2024.

Determine if the licence is impaired at the end of 2024.

The licence is not impaired at the end of 2024.

Prepare any related entry that is necessary. (Credit account 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 0 for the amounts. List debit entry before credit entry.)

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