On Dec. 15, completed an impairment test, determined there to be an impairment loss on their equipment. Cost of equipment was $368,570 and fair value is $127,300 $706,000, carry value was Accum. Dep.-Equipment Accum. Dep. Equipment Explanation Ref Debit Credit impar Loss on Equpment Impair. Loss on Equipment Date Explanatien Rof Debit Credi Balance Equpment tquipment Date Explanation Ref Debit Credit