Presented below is information related to equipment owned by Waterway Company at December 31, 2017

Cost		$9,810,000
Accumulated depreciation to date		1,090,000
Expected future net cash flows		7,630,000
Fair value		5,232,000

Waterway intends to dispose of the equipment in the coming year. It is expected that the cost of disposal will be $21,800. As of December 31, 2017, the equipment has a remaining useful life of 4 years.

Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2017. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)