In the current year, the building occupied by Sunshine City's Culture and Recreation Department suffered severe structural damage as a result of a hurricane. It had been 48 years since a hurricane had hit the Sunshine City area, although hurricanes in Sunshine City's geographic area are not uncommon. The building had been purchased 10 years earlier at a cost of $2,100,000 and had accumulated depreciation of $525,000 as of the date of the hurricane. Based on a restoration cost analysis, city engineers estimate the impairment loss at $240,000; however, the city expects during the next fiscal year to receive insurance recoveries of $125,000 for the damage. Required b. Record the estimated impairment loss in the journal for governmental activities at the government-wide level. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Governmental Activities General Journal 1. Record the estimated impairment loss. Governmental Activities it's (Ctrl)