Bridgeport Corp., a small company that follows ASPE, owns machinery that cost $945,000 and has accumulated depreciation of $360,000. The undiscounted future net cash flows from the use of the asset are expected to be $561,000. The equipments fair value is $455,000. Using the cost recovery impairment model, prepare the journal entry, if any, to record the impairment loss.

Account Titles and Explanation	Debit	Credit