Equipment has a book value of $38,400 and a fair value of $35.400. The decline in value meets the two-step Impairment test. Prepare the entry to record this $3,000 impairment. View transaction list Journal entry worksheet Record the impairment loss of $3,000 for the equipment. Note: Enter debits before credits. Debit Credit Transaction General Journal 1 View general journal Clear entry Record entry