Bridgeport Corporation owns corporate bonds at December 31, 2020, accounted for using the amortized cost model. These bonds have a par value of $640,000 and an amortized cost of $630,000. After an impairment review was triggered, Bridgeport determined that the discounted impaired cash flows are $590.000 using the current market rate of interest, but are $587.000 using the market rate when the bonds were first acquired. The company follows a policy of directly reducing the carrying amount of any impaired assets. For simplicity purposes, assume that no impairment loss had been recorded earlier Assuming Bridgeport Corporation is a private enterprise that applies ASPE, prepare the journal entry related to the impairment at December 31, 2020. (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 O for the amounts) Date Dec. 31, 2020 Account Titles and Explanation Debit Credit 9