Oriole Ltd. purchased equipment on January 1, 2015 at a cost of $189,020. The equipment has an estimated useful life of 10 years and a residual value of $10,640. Oriole realized that there was a declining demand for the product being produced by the equipment. Given this indicator of possible impairment, management determined that the recoverable amount of the asset on December 31, 2018 was $97,320. The company uses the straight-line method of depreciation. (a) Your answer is correct. Calculate the annual depreciation and the carrying amount at December 31, 2018. Annual depreciation Carrying amount +A A 17,838 117,668 (b) Your answer is partially correct. Record the impairment loss, if any, on December 31, 2018. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Impairment Loss Accumulated Depreciation - Equipment eTextbook and Media List of Accounts Debit 46,316 Credit 46,316