Presented below is information related to equipment owned by Sheridan Company at December 31, 2025. Cost $6,840,000 Accumulated depreciation to date 720,000 4,770,000 3,270,000 Expected future net cash flows Fair value Assume that Sheridan will continue to use this asset in the future. As of December 31, 2025, the equipment has a remaining useful life of 4 years and no salvage value. (a) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025. (If no 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. List debit entry before credit entry.) Date Account Titles and Explanation December 31, 2026 List of Accounts Debit Credit