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The following information is available for Barkley Company's patents:

Cost $1,720,000
Carrying amount 860,000
Expected future net cash flows 800,000
Fair value 640,000

Barkley would record a loss on impairment of:

A.) $1,080,000.

B.) $220,000.

C.) $160,000.

D.) $60,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M995655

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