Crane Corporation purchased equipment for $$739000$ in $2025.$ Two years later, the equipment has accumulated depreciation of

$$236000$ and Crane has concerns that the equipment has been impaired. Future cash flows are estimated to be $$490000.$ The

controller believes the current fair value of the equipment to be approximately $$439000.$ The journal entry to record the impairment

loss on the equipment will include

credit to Accumulated Depreciation $-$ Equipment for $$13000.$

no impairment has occurred, so no journal entry is required.

credit to Accumulated Depreciation $-$ Equipment for $$64000.$

credit to Loss on Impairment for $$64000.$