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*Problem 11-9 Sarasota Company uses special strapping equipment in ils packaging business. The equipment was purchased in January 2016 for $11,100,000 and had an estimated useful life of 8 years with no salvage value. At December 31, 2017, new technology was introduced that would accelerate the obsolescence of Sarasota's equipment. Sarasota's controller estimates that expected future net cash flows on the equipment will be $6,993,000 and that me fair value of the equipment is $6,216,000. Sarasota intends to continue using the equipment, but it is estimated that the remaining useful life is 4 years. Sarasota uses straight-line depreciation. Prepare the journal entry (if any} to record the impairment at December 31, 2017. (\"no elotry is required, select "No entry" for the account titles and utter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent men ually.) Date Account Titles and Explanation Debit Credit :JSE Prepare the journal entry for the equipment at December 31, 2018. The fair value of the equipment at December 31, 2018, is estimated to be $6,549,000. {Ifno entry is required, sdect \"No entry" for the account titles and enter 0 for the amounts. Credit account lls are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit :JSS Prepare the journal entry (if any) to record the impairment at December 31, 2017 and for the equipment at December 31, 2018, assuming that Sarasota intends to dispose of the equipment and mat it has not been disposed of as of December 31, 2018. (Ilno entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented Men amount is entered. Do not indent manually.) Date Account Tides and Explanalion Debit Credit E: [:1SS