Lamar Printing Company Determines That a Printing Press Used in Its

Multiple Choice

Lamar Printing 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

A) recognize an extraordinary loss for the period.
B) include a credit to the equipment accumulated depreciation account.
C) include a credit to the equipment account.
D) not be made if the equipment is still being used.