i need help finiching the last part please

Question 1 Whispering Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2016 for $11,700,000 and had an estimated useful life of 8 years with no salvage value. At December 31, 2017, new technology was introduced that would accelerate the obsolescence of Whispering's equipment. Whispering's controller estimates that expected future net cash flows on the equipment will be $7,371,000 and that the fair value of the equipment is6,552,000, whispering intends to continue using the equipment, butt is estimated at the remaining useu lie s ears. Whispering uses straight-line depreciation (a) Your answer is correct. Prepare the journal entry (if any) to record the impairment at December 31, 2017. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Loss on Impairment 2223000 Accumulated Depreciation-Equipment 2223000