Blossom Co$.$ purchased equipment that was installed and ready for use at the beginning of January $2025$ for a total cost of $$1,245,000.$ The salvage value was estimated at $$209,000.$ The machinery is depreciated over five years using the straight$-$line method. At December $31,2027,$ the undiscounted expected future net cash flows were $$505,000$ and the discounted expected net cash flows were $$454,500.$

$($b$)$ Assume that Blossom did not use the asset in $2028$ and listed it for sale. At $12/31/28,$ the asset had a fair value of $$505,000$ and a disposal cost of $$11,000.$ Prepare any journal entry needed at that date with regard to the asset. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List debit entry before credit entry.$)$