Bramble Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2019 for $11,400,000 and had an estimated useful life of 8 years with no salvage value. At December 31, 2020, new technology was introduced that would accelerate the obsolescence of Bramble's equipment. Bramble's controller estimates that expected future net cash flows on the equipment will be $7,182,000 and that the fair value of the equipment is $6,384,000. Bramble intends to continue using the equipment, but it is estimated that the remaining useful life is 4 years. Bramble uses straight-line depreciation. (a) (b) Prepare all required journal entries (if any) at December 31, 2021. The fair value of the equipment at December 31, 2021, is estimated to be $6,726,000. (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.) Date Account Titles and Explanation Debit Credit Dec. 31