Bonita Company owns equipment that cost $981,000 and has accumulated depreciation of $414,200. The expected future net cash flows from the use of the asset are expected to be $545,000. The fair value of the equipment is $436,000. Prepare the journal entry, if any, to record the impairment loss. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Loss on Impairment Accumulated Depreciation-Equipment eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 1 of 3 used Submit Answer