Blossom SE uses special strapping equipment in its packaging business. The equipment was purchased in January 2021 for 12,400,000 and had an estimated useful life of 8 years with no residual value. At December 31, 2022, new technology was introduced that would accelerate the obsolescence of Blossom's equipment. Blossom's controller estimates that the present value of expected future net cash flows on the equipment will be 6,572,000 and that the fair value less costs to sell the equipment is E6,944,000. Blossom intends to continue using the equipment, but it is estimated that the remaining useful life is 4 years. Blossom uses straight-line depreciation. (a) Prepare the journal entry (if any) to record the impairment at December 31, 2022. Of no entry is required, select "No entry" for the acoount titles and enter O for the amounts. Credit occount titles are outomaticolly indented when amount is entered. Do not indent manually