Presented below is information related to equipment awned by Sweet Company at December 31, 2017 Cost Accumulated depreciation to date Expected future net cash flows Fair value $10,890,000 1,210,000 8,470,000 5,808,000 Assume that Sweet will continue to use this asset in the future. As of December 31, 2017, the equipment has a remaining useful life of 4 years. Preparethe journal entry Of any) torecord the impairment of the asset at December 31,2017,ifno entry is required, select "No entry for the account titles and enter O for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Dec. 31 List of Accounts Prepare the ournal entry to record depreclat on expense for 2018 no entry is require select No entry or the account titles and enter 0 or the amounts. Credit a unt titles re autor ati ally indented when nou t is entered. Do not ident m nually. Account Titles and Explanation Debit Credit List of Accounts The air value of the equipment at occm er 3 2 18, is $6,1 71 indented when armount is entered. Do not indent manually.) repare the journal cntry any necessary to record this increase in air value no e ry s re u e se e t No entry for the account es and enter or he mounts redit un t es are auton ca Date Account Titles and Explanation Debit Credit Doc.31