Concord Company owns equipment that cost $945,000 and has accumulated depreciation of $399,000. The expected future net cash flows from the use of the asset are expected to be $75,000. The fair value of the equipment is $420,000 Prepare the journal entry, if any, to record the impairment loss. (If no entry is required, select "No entry" for the account tities and enter o for the amounts. Credit occount titles are outomatically indented when amount is entered. Do not indent manually. List debit entry before credit eniry)