Staples Company completed all of its March 31 2011 adjustments in preparation for compiling its financial statements which resulted in the following trial balance. .0/msohtmlclip1/01/clip_image002.png”> Other information: 1. All accounts have normal balances. 2. $61 000 of the mortgage balance is due beyond March 31 2012. The final task in the year-end process was to assess the assets for impairment which resulted in the following schedule. .0/msohtmlclip1/01/clip_image004.png”> Required 1. Prepare the entry (entries) to record any impairment losses at March 31 2011. Assume the company recorded no impairment losses in previous years.
