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Presented below is information related to equipment owned by Windsor Company at December 31,2025. ...

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Accounting

Presented below is information related to equipment owned by Windsor Company at December 31,2025.
Windsor intends to dispose of the equipment in the coming year. It is expected that the cost of disposal will be $21,600. As of
December 31,2025, the equipment has a remaining useful life of 5 years.
(a)
Correct Answer (Used)
Prepare the journal entry (if any) to record the impairment of the asset at December 31,2025.(If no entry is required, select "No
entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not
indent manually. List debit entry before credit entry.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
Loss on Impairment
Accumulated Depreciation - Equipment
(b)
Prepare the journal entry (if any) to record depreciation expense for 2026.(If no entry is required, select "No entry" for the account
titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List
debit entry before credit entry.)
Account Titles and Explanation
Debit
Credit
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