Prevented below is information related to equipment owned by Kingbird Company at December 31, 2025. Cost $10.890.000 Accumulated depreciation to date 1.210,000 Expected future net cash flows 8.470.000 Fair value 5.808,000 Kingbird Intends to dispose of the equipment in the coming year. It is expected that the cost of disposal will be $24 200. As of December 31. 2025. the equipment has a remaining useful life of 4 years. [b] Your liver is Incorrect. The asset was not sold by December 31, 2026. The fair value of the equipment on that date is $4 413,000. Prepare the journal entry Of any necessary to record this increase in fair value. It is expected that the cost of dispos al is still $24.200 of no entry is required, select "Ne 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 List debit entry before credit entry) Date Account Titles and Explanation Debit Credit 31