Concord Corporation owns corporate bonds at December $31,2023,$ accounted for using the amortized cost model. These bonds have a par value of $$992,000$ and an amortized cost of $$977,000.$ After an impairment review was triggered, Concord determined that the discounted impaired cash flows are $$914,500$ using the current market rate of interest, but are $$910,000$ using the market rate when the bonds were first acquired. The compary follows a policy of directly reducing the carrying amount of any impaired assets. Assume that no impairment loss had been recorded earlier.

$($a$1)$

Assuming Concord is a private enterprise that applies ASPE, prepare the journal entry related to the impairment at December $31,$

$2023.$