please answer all parts that are red

green means its correct

Coronado Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2024 for $11,200,000 and had an estimated useful life of 8 years with no salvage value At December 31,2025 , new technology was introduced that would accelerate the obsolescence of Coronado's equipment Coronado's controller estimates that expected future net cash flows on the equipment will be $7,056,000 and that the far value of the equipment is $6,272,000. Coronado intends to continue using the cquipment, but it is estimated that the remaining useful life is 4 vears. Coronado uses straight-line depreciation. Prepare the journal entry (ff any) to record the impairment at December 31 2025. Of no entry is required, select "No entry' for the account titles ond enter O for the amounts Credit occount tities are cutomatically indenfed when amount is entered. Do not indent manually List debit entry before credit entry] Prepare the journal entry for the equipment at December 31, 2026. The fair value of the equipment at December 31, 2026, is cstimated to be $6,608,000. tf no entry is requlred, select "No entry" for the occount titles and enter O for the amounts. Credit account tities are automotically indented when amount is entered. Do not indent manually List debit entry before credit entry)