Kingbird Inc. owns equipment that cost $672,000 and has accumulated depreciation of $174,000. The expected future net cash flows from the use of the asset are expected to be $444,000. The fair value of the equipment is $384,000. Prepare the journal entry, if any, to record the impairment loss. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

Current Attempt in Progress Kingbird Inc. owns equipment that cost $672,000 and has accumulated depreciation of $174,000. The expected future net cash flows from the use of the asset are expected to be $444,000. The fair value of the equipment is $384,000. Prepare the journal entry, if any, to record the impairment loss. (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.) Account Titles and Explanation Debit Credit