Assume that Swifty will continue to use this asset in the future. As of December $31,2025,$ the equipment has a remaining useful life

of $4$ years and no salvage value.

$($a$)$

$$ Your answer is correct.

Prepare the journal entry $($if any$)$ to record the impairment of the asset at December $31,2025.($If no entry is required, select $"$No

Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not

Entry" for the account titles and enter $0$ for the amoun indent manually. List debit entry before credit entry.$)$

$($b$)$

Prepare the journal entry to record depreciation expense for $2026.$ Use straight$-$line method. $($If no entry is required, select $"$No

Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not

indent manually. List debit entry before credit entry.$)$