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Required: 1. Determine the amount of impairment loss, if any. 2. If a loss is...

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Accounting

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Required: 1. Determine the amount of impairment loss, if any. 2. If a loss is indicated, where would it appear in General Optic's multiplestep income statement? 3. If a loss is indicated, prepare the entry to record the loss. 4. Repeat requirement 1 assuming that the estimated discounted sum of future cash flows is $10,000,000 instead of $15,000,000. 5. Repeat requirement 1 assuming that the estimated discounted sum of future cash flows is $19,000,000 instead of $15,000,000

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