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Lackey Painting Company determines that a printing press used in its operations has suffered a...

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Question

Accounting

Lackey Painting Company determines that a printing press used in its operations has suffered a permanent impairment in value because of technological changes. An entry to record the impairment should

Group of answer choices

recognize an unusual loss for the period.

not be made if the equipment is still being used.

include a credit to the equipment account.

include a credit to the equipment accumulated depreciation account.

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