The machining contract that Quirel concluded with an equipment manufacturer has become onerous. A machine is used exclusively to fulfil it; the test performed under IAS 36 shows an impairment loss of 30,000 (case data). After this impairment loss, the excess of the unavoidable costs over the expected benefits is 22,000. Record the entries in the required order.
- Impairment loss on the machine
- 30,000
- Remaining loss on the contract
- 22,000