Presented below is information related to equipment owned by Blossom Company at December $31,2025.$

Cost                                                                         $$11,070,000$

Accumulated depreciation to date                      $1,230,000$

Expected future net cash flows                            $8,610,000$

Fair value                                                                  $5,904,000$

Assume that Blossom will continue to use this asset in the future. As of December $31,2025,$ the equipment has a

remaining useful life of $4$ years.

 

Prepare the journal entry to record depreciation expense for $2026.$