Leuschke Company purchased waste disposal equipment on January 1, 2023, for $50,000. The equipment had an estimated useful life of 10 years with no salvage value. On December 31, 2025, the company determined that the equipment may become obsolete in a few years. The company estimates that expected future net cash flows on the equipment will be $20,500 and that the fair value of the equipment is $17,500. Leuschke intends to continue using the equipment, but it is estimated that the remaining useful life is 4 years. Leuschke uses straight-line depreciation. PART A What is the carrying value of the asset? $ PART B Prepare the journal entry (if any) to record the impairment on December 31, 2025. Account Debit Credit No Journal Entry Required PART C Prepare the journal entry (if any) for the equipment on December 31, 2026. Account No Journal Entry Required Debit Credit