Dexter Company uses special strapping equipment in its packaging business. The equipment was purchased in January 20X 1 for $8.000.000 and had an estimated useful life of 8 years with no sa lvage value. At December 31,20X2, new technology was introduced that would accelerate the obsolescence of Dexter's equipment. Dexter's controller estimates that expected future net cash flows on the equipment will be $5,000,000 and that the fair value of the equipment is $4,.400,000. Dexter intends to continue using the equipment,but it is estimated that the remaining useful life is 4 years. Dexter uses straight-line depreciation Instructions Recc. d the DR and CR in your entries. (a) Prepare the journal entry (if any) to record the impairment at December 31, 20X2. (b) Prepare any journal entries for the equipment at December 31,20X3. The fair value of the equipment at December 31, 20X3, is estimated to be $4,600,000