1. Moneo Co. purchased equipment that was installed and ready for use at the beginning of January 2025 for a total cost of $1,250,000. The salvage value was estimated at $200,000. The machinery is depreciated over five years using the straight-line method. At December 31, 2027, the undiscounted expected future net cash flows were $500,000 and the discounted expected net cash flows were $450,000. Instructions 1. Prepare the journal entry to record the impairment loss (if any) at12/31/2027. 000,003,2 000,008, 2. Assume that Moneo did not use the asset in 2028 and listed it for sale. At 12/31/28, the asset had a fair value of $500,000 and a disposal cost of $10,000. Prepare any journal entry needed at that date with regard to the asset.