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Use the Following Information to Answer Question 1 and 2

Question 110

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Use the following information to answer Question 1 and 2.
Harrison Company has a loan receivable with a carrying value of $15,000 at December 31, 2013. On January 3, 2014, the borrower, Thomas Clark Imports, declares bankruptcy, and Harrison estimates that it will collect only 60% of the loan balance.
-Which of the following entries would Harrison make to record the impairment under IFRS? Use the following information to answer Question 1 and 2. Harrison Company has a loan receivable with a carrying value of $15,000 at December 31, 2013. On January 3, 2014, the borrower, Thomas Clark Imports, declares bankruptcy, and Harrison estimates that it will collect only 60% of the loan balance. -Which of the following entries would Harrison make to record the impairment under IFRS?

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