Grouper Corp., a small company that follows ASPE, owns machinery that cost $955,000 and has accumulated depreciation of $385,000. The undiscounted future net cash flows from the use of the asset are expected to be $546,000. The equipments fair value is $405,000. By the end of the following year, the machinerys fair value has increased to $435,000. (a) Assuming the machinery continues to be used in production, prepare the journal entry required, if any, to record the increase in its fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit