Identifying and Recording Impairment Loss on Fixed Asset Supreme Inc. has equipment with an orginal cost of $1,040,000, and accumulated depreciation of 5480,000. Supreme is aware of a general market decline in the war of this equipment due to upgrades that are now available. Supreme estimates the total remaining future net cash inflows from operating the equipment to be 5640.000 The fait value of the plant is estimated to be $480,000 based on conditions in the local market. Prepare the entry any that Supreme should make to record the decline in value Note: if a line in a journal entry isn't required for the transaction select "NA" as the account name and leave the Drand Cr, answers bankrol. Account Name Dr. Lima 30,000